Finance Bill amended; 20% LTCG with indexation on realty deals optional
The move comes after backlash on a budget proposal to remove indexation benefits on capital gains on the sale of immovable property
The move comes after backlash on a budget proposal to remove indexation benefits on capital gains on the sale of immovable property
Indexation benefits being removed from long term real estate deals is a dampener.
The removal of indexation benefit will increase the tax incidence on property sale, especially for older properties, says Gautam Shahi, director, CRISIL Ratings.
With the changes announced in the budget 2024-25, long term capital gains tax of 12.5% will be applicable on gains arising out of property sales without the indexation benefits.