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
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 before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
- 1 Digital System for Fertiliser Subsidy Targeting
- 2 ‘Agri SURE’ Fund: Promoting Innovation in Agriculture
- 3 Promotion of Natural Farming
- 4 RBI Allows Foreign Currency Accounts in IFSC
- 5 PCA Framework for Urban Cooperative Banks
- 6 SEBI’s Uniform Charge Structure for Stockbrokers
- 7 World Bank Group Guarantee Platform
- 8 RBI’s Report on Currency and Finance
- 9 Critical Mineral Asset
- 10 India’s First Green Steel Initiative
