In the run-up to the upcoming Union Budget, Mint conducted an online poll from 28 November and 30 December inviting its print and digital readers to share their views on how the government should approach the annual exercise. Tax conundrum In the previous Union budget, finance minister Nirmala Sitharaman had tweaked the income tax slabs and increased standard deduction for …
Land and building owners now have a reason to cheer. The government has proposed an amendment to the Finance Bill 2024 regarding long-term capital gains tax, thereby relieving property owners of the extra tax burden that would have arisen on account of the latest changes announced by Finance Minister Nirmala Sitharaman on July 23 in the Union Budget 2024. What …
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 …
