Modi Govt Revises LTCG Rules For Real Estate In Budget 2024-25: Tax Expert Ved Jain Explains

Опубликовано: 07 Август 2024
на канале: Business Today

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#LTCGRules #RealEstate #Budget2024 #TaxExpert #ModiGovernment #VedJain
In a significant relief for home buyers, the government has amended the Long-Term Capital Gains (LTCG) regime for real estate. Taxpayers can now choose between a lower tax rate of 12.5% without indexation or a higher rate of 20% with indexation for properties acquired before July 23, 2024. This allows individuals or Hindu Undivided Families (HUFs) to compute their taxes under both schemes and pay the lower amount. This amendment to the Finance Bill 2024 offers substantial relief on long-term capital gains for immovable property. The flexibility provided in the grandfathering provision applies to all property transactions finalized before the Budget's presentation on July 23.Tax expert Ved Jain explains this amendment, stating: "This is very good news. It's a win-win situation for homeowners, especially the middle class. The amendment proposed allows you to choose between the old law and the new law, depending on which is more beneficial. The real estate sector should be very happy with this new amendment."

#LTCGAmendment #HomeBuyersRelief #FinanceBill2024 #TaxSavings #PropertyInvestment #TaxBenefits #MiddleClassRelief #RealEstateSector #TaxFlexibility
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