indexation benefit

How profit on sale of shop purchased in 1999 will be taxed after Budget 2024?

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How profit on sale of shop purchased in 1999 will be taxed after Budget 2024?

I am 78. I sold a shop I purchased in 1999 for ₹2.40 Lakh and spent ₹1 lakh on better looks and convenience in 1998. I am planning to sell it for ₹18 lakh in August 2024. Can you advise me how much the capital gain will be?How can I save the tax? As the … Read more

From simplicity to fairness: Indexation benefit for property restored, but is it enough?

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From simplicity to fairness: Indexation benefit for property restored, but is it enough?

The recent amendment to the Finance Bill, which offers the choice of a 20% LTCG tax with indexation or a 12.5% tax without indexation for property deals before 23 July, is a welcome change.  This move marks a U-turn from the finance minister’s announcement in the Budget 2024 to remove indexation. However, the amendment should … Read more