There’s been a significant development regarding the indexation benefit on Long-Term Capital Gains (LTCG) from the sale of properties. <\/p>\n\n\n\n
Key Points:<\/p>\n\n\n\n
Budget 2024 Proposal: Initially, the Finance Minister proposed reducing the LTCG tax on property to 12.5% from 20% while completely removing the indexation benefit. <\/p>\n\n\n\n
Public Outcry: This proposal faced strong opposition from the real estate sector and other stakeholders. <\/p>\n\n\n\n
Government’s Response: In response to the public outcry, the government has introduced a choice for taxpayers:<\/p>\n\n\n\n
Option 1: Pay a 12.5% LTCG tax without indexation benefit. <\/p>\n\n\n\n
Option 2: Pay a 20% LTCG tax with indexation benefit. <\/p>\n\n\n\n
Eligibility: This choice is available for properties acquired before July 23, 2024. <\/p>\n\n\n\n
Benefits of the Change:<\/p>\n\n\n\n
Taxpayer-friendly: The government’s decision provides taxpayers with flexibility to choose the option that best suits their financial situation. <\/p>\n\n\n\n
Relief for Homeowners: The option to retain the indexation benefit offers significant relief to homeowners. <\/p>\n\n\n\n
Boost to Real Estate Sector: The amendment is expected to positively impact the real estate market. <\/p>\n\n\n\n
It’s important to note that this change is still in the form of a proposed amendment and needs to be passed by the Parliament to become law.<\/p>\n\n\n\n
Would you like to know more about how to calculate your LTCG under the new options or understand which option might be better for you?<\/p>\n","protected":false},"excerpt":{"rendered":"
There’s been a significant development regarding the indexation benefit on Long-Term Capital Gains (LTCG) from the sale of properties. Key Points: Budget 2024 Proposal: Initially, the Finance Minister proposed reducing the LTCG tax on property to 12.5% from 20% while completely removing the indexation benefit. Public Outcry: This proposal faced strong opposition from … Continue reading “Latest Update on Indexation Benefit on LTCG”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4014],"tags":[],"_links":{"self":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/1886"}],"collection":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/comments?post=1886"}],"version-history":[{"count":1,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/1886\/revisions"}],"predecessor-version":[{"id":1887,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/1886\/revisions\/1887"}],"wp:attachment":[{"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/media?parent=1886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/categories?post=1886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/khannaandassociates.com\/blog\/wp-json\/wp\/v2\/tags?post=1886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}