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How the Budget affects your LTCG tax on immovable property
The Union Budget has proposed a reduced LTCG tax rate of 12.5% on immovable property sales, effective 23 July 2024, while eliminating indexation benefits. This change benefits taxpayers if property appreciation exceeds a minimum CAGR of 9-11.2% over 5 to 24 years.
The Union Budget has proposed a reduced LTCG tax rate of 12.5% on immovable property sales, effective 23 July 2024, while eliminating indexation benefits. This change benefits taxpayers if property appreciation exceeds a minimum CAGR of 9-11.2% over 5 to 24 years.
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