| 2000-2001 | LTCG tax rate at 20% with indexationSTT not introduced yet | Moderate investment climateLimited retail participation | Post-Kargil war economyIT boom period |
| 2004-2005 | Securities Transaction Tax (STT) introducedLTCG on securities exempt if STT paid | Increased market transparencyEncouraged long-term equity investments | UPA-I government formationStrong economic growth phase |
| 2006-2008 | DDT (Dividend Distribution Tax) increasedShort-term capital gains tax rate reduced to 10% for equities | Changed investment preference toward growth stocksEncouraged trading activity | Pre-global financial crisisBull market period |
| 2008-2009 | STT rates rationalizedRelief measures during global crisis | Helped maintain market stabilityProtected domestic investors | Global financial crisisMarket volatility |
| 2012-2013 | Introduction of tax on long-term capital gains for unlisted securities at 10% without indexationHigher surcharge for high-income taxpayers | Affected private equity investmentsProgressive taxation structure | Economic slowdownFiscal deficit concerns |
| 2014-2016 | Holding period for unlisted shares to qualify as long-term increased from 12 to 36 monthsBase year change for indexation to 01-04-1981 | Reduced tax arbitrage opportunitiesUpdated inflation adjustment mechanism | New government (NDA)‘Make in India’ initiative |
| 2016-2017 | Tax on LTCG from unlisted securities reduced to 10%Holding period for immovable property reduced from 36 to 24 months | Boosted startup investmentsIncreased real estate transactions | DemonetizationEconomic reforms |
| 2018-2019 | Reintroduction of LTCG tax on equity shares at 10% for gains above ₹1 lakhGrandfathering benefit for gains up to January 31, 2018 | Initial market volatilityBroadened tax baseReturn of equitable taxation | GST implementation phaseFiscal consolidation efforts |
| 2020-2021 | Dividend taxation shifted from companies to shareholdersSTT rates unchanged despite market requests | Changed dividend yield calculationsIncreased tax burden on high-dividend portfolio investors | COVID-19 pandemicEconomic contraction |
| 2021-2023 | Capital gains on cryptocurrency and digital assets classifiedTDS on virtual digital asset transfersHigher surcharge capped at 15% for all capital gains | Legitimized crypto investmentsRegulatory clarity on new asset classesRelief for high-income investors | Post-pandemic recoveryTechnological advancement |
| 2023-2024 | Rationalization of capital gains tax structureSimplification of holding periods across asset classes | More coherent investment planningReduced classification complexities | Focus on ease of doing businessGlobal investment competition |