Budget 2024: Tax on sale of older property could go up
The removal of indexation benefit will increase the tax incidence on property sale, especially for older properties, says Gautam Shahi, director, CRISIL Ratings.
The removal of indexation benefit will increase the tax incidence on property sale, especially for older properties, says Gautam Shahi, director, CRISIL Ratings.
With the changes announced in the budget 2024-25, long term capital gains tax of 12.5% will be applicable on gains arising out of property sales without the indexation benefits.
Revenue secretary Tarun Bajaj calls for an absolute review of the capital gains tax regime.
A growing view ahead of the budget is that the exemption limit of ₹1.5 lakh, which has not been changed since 2014, now needs to be revised.
Mauritius last week got the ‘eligible country’ status from India. Investment entities from the island country can register with SEBI as category–1 FPIs with less stringent KYC requirements.
According to the international brokerage, the market is looking for some relief in personal income taxes and taxes for companies/investors.
In 44 trading days, benchmark indices Sensex and Nifty fell 7.82% and 9.03%, respectively, while the midcap and smallcap indices hit 52-week lows on August 2.
Apart from volatility, LTCG might be responsible for the near 80% monthly fall in inflows for equity mutual fund schemes in March.
Godrej Group boss Adi Godrej on LTCG, oil prices and the rise of Patanjali
Homi B. Mistry, Partner at Deloitte India decodes the key personal tax proposals, including long terms capital gains, announced in Union Budget 2018