The government has rolled back its initial Budget proposal to remove indexation benefits on long-term capital gains (LTCG) from property sales, providing relief to real estate investors and property owners.
Indexation BenefitsPrebudget Property SalesLtcg TaxReal Estate InvestorsTax RegimeReal EstateAug 08, 2024
Indexation is a process that adjusts the original purchase price of an asset to account for inflation, reducing tax liability on capital gains.
The old regime allows for indexation benefits, while the new regime offers a lower tax rate of 12.5% without indexation.
Grandfathering allows older rules to apply to certain situations up to a specific date, ensuring that taxpayers who made investment decisions based on existing rules are not adversely affected by sudden policy changes.
Capital gains from these assets will be taxed at 10% for transfers before July 23 and 12.5% thereafter.
Industry observers and opposition lawmakers have raised concerns that the new regime might lead to increased secondary market sales and encourage cash transactions in real estate to reduce tax liabilities.
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