LTCG Tax Tweaks to Boost Housing Sales and Investments
Real Estate, Realty, Housing
Real EstateLtcg TaxHousing SalesInvestmentsIndexation BenefitReal EstateAug 07, 2024
Industry experts believe that by allowing taxpayers to choose between the new and old LTCG tax regimes, the amendment will boost sales across housing segments. Niranjan Hiranandani, Chairman of the Hiranandani Group, said, \
Frequently Asked Questions
What is the LTCG tax regime?
The LTCG tax regime is a tax on long-term capital gains, which is the profit made from selling an asset held for more than one year.
What is the indexation benefit?
The indexation benefit is a tax benefit that allows taxpayers to adjust the cost of acquiring an asset for inflation, reducing the taxable gain.
How does the amendment affect homebuyers?
The amendment allows taxpayers to choose between the new and old LTCG tax regimes, giving them flexibility in their tax liabilities when selling their property.
What is the impact of the amendment on the housing market?
The amendment is expected to stimulate the residential property market by providing clarity and implying a potential tax burden reduction.
Can homeowners enjoy both the old and new tax regimes?
Yes, the amendment allows homeowners to enjoy the best of both worlds and minimise their tax burden when selling their house property.
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