As of the latest updates, long-term capital gains (LTCG) from equity funds are taxed at 12.5% on gains exceeding ₹1.25 lakh, while short-term capital gains (STCG) are taxed at 20% for holdings under one year. Debt funds face similar rules, with LTCG now taxed at a flat 12.5% after three years, without indexation benefits.