Govt amends Budget proposal on realty capital gains formula
Wednesday, 7 August 2024
Finance Minister Nirmala Sitharaman introduced amendments to the Finance Bill to mitigate the impact of long-term capital gains tax on real estate. Taxpayers can now choose between a new 12.5% tax rate without indexation and the old 20% rate with indexation, opting for whichever is lower for assets acquired before July 23, 2024. The Lok Sabha approved the Bill.
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