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 …
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 …
The Union Budget 2024 introduced significant changes to capital gains tax rates, impacting both short-term and long-term capital gains from equity and equity-oriented mutual funds. Nirmala Sitharaman announced two changes to capital gains tax rates that will affect mutual fund investors’ earnings. Short-term capital gains tax applies to mutual fund investments held for less than a year, while long-term capital …
