NEW DELHI: Union finance minister Nirmala Sitharaman on Wednesday announced amendments regarding the Long-Term Capital Gains (LTCG) tax proposal on real estate during a debate on the Finance Bill in Lok Sabha.Taxpayers will now have the choice to calculate their tax liability using either the old system or the reduced rates without indexation, and pay…
NEW DELHI: Govt has decided to rework its proposal on long-term capital gains tax for real estate by providing individuals and HUFs the option to pay tax along with indexation benefit at 20%, or at 12.5% without indexation, depending on where they are better off. The tweak — for properties acquired before July 23, 2024…
Inflation is no longer your best friend if you plan to sell a property. For years, Indians had the option of reducing tax on profit made from selling a house by making use of what is called ‘indexation benefit‘. It allowed the difference between purchase and sale price of a house (profit) to be reduced…
NEW DELHI: The Union Budget 2024 has introduced changes to the taxation of long-term capital gains (LTCG) arising from the sale of property. The indexation benefit, which allowed property owners to adjust their purchase price for inflation, has been removed. Instead, a new LTCG tax rate of 12.5% will be applied to the capital gains…
