The Central government has moved amendments in the Finance Bill on the removal of the indexation benefit on calculating long-term capital gains tax (LTCG) on real estate, offering a choice between retaining old indexation benefits or opting for the new regime to those who purchased property before July 23, 2024. The amendment made in the Finance Bill will let taxpayers select either 12.5 per cent LTCG rate without indexation or 20 per cent rate with indexation for property purchased before July 23, 2024. In the Union Budget 2024-2025, presented last month, Finance Minister Nirmala Sitharaman had proposed to eliminate the indexation benefit on calculating LTCG on real estate. She had changed the LTCG tax rate to 12.5 per cent across all financial and non-financial assets. This had resulted in the LTCG tax on property falling from 20 per cent earlier. Budget 2024: Zerodha CEO Nithin Kamath Says ‘Change in Capital Gains in Budget Affect All Your Investments’, Shares Snapshot of Impact on STCG and LTCG.

Centre Announces Relief for Real Estate Under LTCG

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