Benefits from Removal of Indexation in House Property
Dear Avid Reader , In the recent budget 2024-25 , it has announced for multiple changes in the taxation structure. A biggest change was in the indexation benefit in the Indian Taxation System. Now, indexation is fully eliminated , from the capital gains of all asset classes, including house property. Then, what does it mean to you, as a house owner? It has simplified in calculating tax liability, by minimal adjustment in the LTCG. What is the change through Union Budget 2024? First, LTCGs are considered when house property is hold for 2 Years or more . If you own it, and sell the same, by holding the same property for more than 2 Years. If sold with increase in price, then it will be treated as capital gain. Then, you will be liable for LTCG Tax. What is the New Taxation Structure for you? Capital Gains (On the Basis of Holding Period) Real Estate Taxability STCG 20% LTCG 12....