Removal of Indexation Benefit
The Union Budget 2024-25 proposed to change the long-term capital gains (LTCG) tax rate on the sale of property.
Changes Made
- Elimination of Indexation Benefit: The Budget 2024-25 eliminated the indexation benefit, which previously enabled property owners to adjust their purchase price for inflation, thereby reducing taxable profits.
- 12.5% without Indexation Benefit: Before the Budget 2024-25, the government taxed long-term capital gains (LTCG) from property sales at 20% with indexation benefits.
- Now, properties purchased from 2001 onwards will now incur a 12.5% LTCG tax upon sale.
Impact
- Increase Tax Obligations: The updated tax regulations will increase tax obligations related to ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Economy Watch
- 1 New Maritime Digital Initiatives: Powering Maritime Efficiency
- 2 Financial Stability Report
- 3 SEBI Tightens Timelines for Rebalancing Mutual Fund Portfolios
- 4 RBI Relaxes PSL Norms for Small Finance Banks
- 5 Statistical Report on Agriculture and Allied Sectors
- 6 Rapid Expansion of India's Startup Ecosystem
- 7 RBI Introduces STRIPS in State Government Securities
- 8 Sagarmala Finance Corporation Limited: India’s First Maritime NBFC
- 9 India’s First International Agri Hackathon
- 10 Viksit Krishi Sankalp Abhiyan
