AI Evaluation Notes

The prediction stated that high earners would pay more taxes due to new long-term capital gains (LTCG). Following the Union Budget 2024-25, the LTCG tax rate was indeed increased from 10% to 12.5% for financial and non-financial assets, effective for FY 2024-25 (AY 2025-26). Additionally, indexation benefits for long-term capital assets transferred on or after July 23, 2024, were removed. These changes would lead to high earners with significant capital gains paying more taxes, aligning with the prediction.