WELCOME MOVE TO BRING BACK INDEXATION WHEN TAXING PROPERTY
The New Indian Express|August 08, 2024
Heeding the growing chorus of resentment on long term capital gains (LTCG) tax on unlisted assets, particularly property, Finance Minister Nirmala Sitharaman has rightly decided to amend the Budget proposals to provide a flexible option for calculating LTCG tax.

For assets such as land or buildings acquired before July 23, taxpayers can now choose between the new and old regimes based on the benefits. Under the new proposals, tax on capital gains was reduced to 12.5 percent from 20 percent; but the adjustment for inflation-known as indexation— was done away with for properties bought after 2001. Indexation allowed capital gains to be calculated lower by deducting inflation's impact on the price since the time the property was bought. This translated into 20 percent higher tax on properties purchased before 2010.

この記事は The New Indian Express の August 08, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は The New Indian Express の August 08, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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