Income Tax Bill: Is 18.5% LTCG Tax Rates Proposed On LLPs Under New Draft Bill?
The Income Tax department on Tuesday categorically refuted the claims of a possible increase in the long-term capital gains (LTCG) tax on Limited Liability Partnerships (LLPs) in the new Income Tax Bill, 2025.
The Income Tax Department in a post on X has clarified that the new Bill, which is currently under parliamentary scrutiny, does not include any change in tax rates.
'There are news articles circulating on various media platforms that the new Income Tax Bill, 2025 proposes to change tax rates on LTCG for certain categories of taxpayers. It is clarified that the Income Tax Bill, 2025 aims at language simplification and removal of redundant/obsolete provisions. It does not seek to change any rates of taxes," the I-T Department said in a post on X.
— Income Tax India (@IncomeTaxIndia) July 29, 2025
'Any ambiguity in this respect shall be duly addressed during the passing of the Bill," it added.
Rumours were circulating on social media the draft Bill's provisions on Alternate Minimum Tax (AMT) could effectively raise the LTCG tax on LLPs from 12.5% to 18.5%.
Several tax practitioners have voiced concerns that the way AMT provisions have been redrafted may result in higher effective tax liability for LLPs currently benefiting from lower LTCG rates.
Capital gains tax refers to the tax applicable on the profit one makes by selling an asset. These assets could be stocks, bonds, or real estate. The tax amount is based on the period for which one holds the asset before its sale.
If an asset is held for more than a year, the profit is considered a long-term capital gain and is taxed.
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