Aug 09, 2024
Land and building owners now have a reason to celebrate.
The amendment in the Finance Bill regarding LTCG tax on real estate transactions has reinstated the indexation benefit for properties acquired before July 23, 2024. This change allows individuals and Hindu Undivided Families (HUFs) who purchased residential or commercial properties before July 23, when the Union Budget was presented, to choose between two options: a 12.5% tax on long-term capital gains (LTCG) on property sales without indexation benefits or a 20% LTCG tax with indexation benefit.