In the Indian context—with the recent Budget 2025 changes in mind—capital gains tax is structured primarily by the asset type and the duration for which you hold the asset. Here’s a handmade breakdown:

For Listed Equity Shares & Equity Mutual Funds:
• Short-Term Gains: If these are held for less than 12 months, the gains are now taxed at 20%.
• Long-Term Gains: When held for 12 months or more, gains attract a rate of 12.5%, with an exemption threshold that has been increased modestly (now around ₹1.25 lakh).

For Immovable Property (Real Estate):
• Short-Term Gains: If the property is sold within 24 months, the gains are taxed as per your applicable income tax slab rates.
• Long-Term Gains: For properties held longer than 24 months, the tax rate has been set at 12.5%. (Note that the traditional indexation benefit has been removed in recent changes, which simplifies the calculation.)

For Debt Mutual Funds & Gold:
• Short-Term Gains: When these assets are held for less than 36 months, the gains are added to your income and taxed according to your individual slab rates.
• Long-Term Gains: For holding periods of 36 months or more, the gains are generally taxed at 20%, but you still benefit from the indexation adjustment to account for inflation.