Key Points
In a big relief to real estate industry, Finance Minister Nirmala Sitharaman will move an amendment in the Finance Bill to let taxpayers select either 12.5 per cent LTCG rate without indexation or 20 per cent rate with indexation for property acquired before July 23, 2024...
As per the amendments to Finance Bill, 2024, circulated to the Lok Sabha members on Tuesday, individuals or HuF who bought houses before July 23, 2024, can compute his/her taxes under the new scheme [@12.5 per cent without indexation] and old scheme [@20 per cent with indexation] and pay such tax which is lower of the two...
The development of Prime Minister Narendra Modi-led government comes after facing backlash from the real estate sector..
In Budget 2024 presented by Finance Minister Nirmala Sitharaman, the government proposed eliminating indexation benefits for homeowners...
The Lok Sabha has begun discussion on the Finance Bill after the Appropriation Bill for the central government's expenditure for 2024-25 was passed by the House on Monday.. The passage of the Finance Bill by Parliament will complete the budget process..
