property sales

Capital gains tax changes in real estate: What’s the impact on your taxes after govt’s recent tweak

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Capital gains tax changes in real estate: What’s the impact on your taxes after govt’s recent tweak

Long-term capital gains tax:  The Centre announced on Tuesday a significant decision that offers relief to homeowners regarding Long-Term Capital Gains (LTCG) tax on real estate. Homeowners will now given the option to choose between two tax rates: a 20% rate with the indexation benefit, or a 12.5% rate without indexation. This policy shift follows … Read more

Budget 2024: Without indexation, LTCG tax may surge by 290% for post-2010 housing assets, says BankBazaar report

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Budget 2024: Without indexation, LTCG tax may surge by 290% for post-2010 housing assets, says BankBazaar report

Budget impact: In the Union Budget 2024, the Centre has made noteworthy adjustment regarding the treatment of long-term capital gains (LTCG) in property transactions. Specifically, the indexation benefit has been eliminated, resulting in substantial modifications to the LTCG calculation.  Despite this change, it has been affirmed by the government that properties purchased or inherited prior to … Read more