News Muncher - searching for estate - category indexation benefits

In a major relief to homeowners who bought properties before July 23, 2024, the government has proposed an amendment to the long-term capital gains tax giving them an option to choose between the lower tax rate of 12.5% without indexation or a higher rate of 20% with indexation of properties acquired before July this year. Real estate and tax experts …

Real Estate

In the Union Budget 2024, Finance Minister Nirmala Sitharaman announced revisions to the capital gains tax rates and adjustments to the indexation benefits for various assets, including real estate. Cost of Index Cost of Index Selling Date 30-07-2024 363 Date of Acquisition 01-04-2012 200 Indexed Profit Profit w/o Index Sale Value 40,00,000 40,00,000 Cost 45,37,500 25,00,000 Loss -5,37,500 15,00,000 Tax …