Replying to the debate, Finance Minister Nirmala Sitharman said the approach of the government has been to bring greater simplification of tax laws and procedures and enable growth and employment in the country. She responded to points made by members.
The Finance Minister clarified that in real estate, the roll over provisions have not been withdrawn and are applicable.
She said if the capital gain in a property transaction is invested in buying another one or two properties up to a maximum value of Rs 10 crore, no capital gain tax is required to be paid on such profits.
Capital gains can also still be invested in bonds which are notified under Section 54 of the Income Tax Act up to a maximum of Rs 50 lakh annually and save on taxes.
To give relief on budget proposals, Sitharaman also moved an amendment in the Finance Bill on the changes in the capital gains tax on property transactions.
Bu hikaye The Daily Guardian dergisinin August 08, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Daily Guardian dergisinin August 08, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Bahraich: 11-year-old boy attacked by sixth 'killer' wolf
An 11-year-old boy was allegedly attacked by a wolf in Mohan Pipri village of Bahraich in the early hours of Monday morning.
UP: Illegal nursing home sealed in Hapur after newborn's death
Authorities here have sealed a nursing home operating illegally, following the death of a newborn and subsequent protests by the family, officials said on Monday.
Bike rally held to raise voter awareness in J&K's Doda ahead of assembly polls
A bike rally was held on Sunday to spread voter awareness ahead of the assembly elections in the Union Territory.
Himachal Pradesh bags award for hydropower capacity
Himachal Pradesh has been awarded the \"Highest Achiever State in Overall Hydropower Capacity\" at the Global Renewable Energy Investors Meet and Expo held in Gandhinagar, Gujarat, according to a statement.
Uttarakhand CM spends his birthday with visually impaired children
Chief Minister Pushkar Singh Dhami celebrated his birthday with the visually impaired children by cutting a cake.
MP: Youth booked for making obscene dance video in front of Rani Kamlapati statue
Madhya Pradesh Police registered a case against an unknown youth for allegedly making an obscene dance video in front of the statue of Rani Kamlapati in the state capital Bhopal, a police officer said on Monday.
GLOBAL KASHMIRI PANDIT DIASPORA WELCOMES BJP'S J&K POLL MANIFESTO
The Global Kashmiri Pandit Diaspora (GKPD) has welcomed the Bharatiya Janata Party's election manifesto for the Jammu and Kashmir assembly elections.
UP CM calls for strict action against anarchists involved in railway sabotage conspiracies
In a post shared on X (formerly Twitter), CM Yogi Adityanath said, \"In the last few days, there have been indications of a conspiracy to damage railway tracks or cause a railway accident.
Protesting doctors finally hold meeting with Mamata
Less than 24 hours before the Chief Justice's Bench takes up the RG Kar rape and murder case in the Supreme Court, agitating junior doctors and the State Government broke the stalemate and held a two-hour meeting at the residence of Chief Minister Mamata Banerjee.
'India achieved what developed nations couldn't'
Prime Minister Narendra Modi on Monday said that India was the first G20 nation to achieve its Paris Climate commitments well ahead of the deadline, stating that what couldn't be accomplished by developed nations, was done by a developing country.
