Explorer

Finance Amendment Bill: Govt Promises Tax Relief On Property Sales And LTCG Indexation Benefits | ABP News

The government is preparing to provide significant relief to investors affected by recent budget tax changes. It plans to amend the Finance Bill, 2024, to address concerns over real estate sector investments. The proposed amendment will reinstate the benefit of indexation on property sales.

On Tuesday, the list of proposed amendments to the Finance Bill was distributed to Lok Sabha members. The key change addresses objections to the budget’s impact on real estate. Finance Minister Nirmala Sitharaman had announced a reduction in the long-term capital gains tax rate on property sales from 20% to 12.5% in the budget presented on July 23, 2024. However, the benefit of indexation for calculating tax liability was abolished, effective from the same date.

India Videos

Almora Bus Accident: Bus Carrying 42 Plunges Into Ravine in Uttarakhand | ABP News
Almora Bus Accident: Bus Carrying 42 Plunges Into Ravine in Uttarakhand | ABP News

New Reels

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Popular Folk Singer Sharda Sinha Dies At 72 After Battling Cancer
Popular Folk Singer Sharda Sinha Dies At 72 After Battling Cancer
Gujarat: 3 Workers Dead As Temporary Structure Collapses At Bullet Train Construction Site In Anand
Gujarat: 3 Workers Dead As Temporary Structure Collapses At Bullet Train Construction Site In Anand
From Chhath Songs To Bollywood Hits, All About The Folk Music Icon Sharda Sinha
From Chhath Songs To Bollywood Hits, All About The Folk Music Icon Sharda Sinha
2008 Malegaon Blast Case: NIA Court Issues Bailable Warrant Against BJP Leader Pragya Thakur
2008 Malegaon Blast Case: NIA Court Issues Bailable Warrant Against BJP Leader Pragya Thakur
Advertisement
ABP Premium

Videos

How will the company perform in Swiggy IPO? It aims to raise Rs 11000 | ABP Paisa LiveDemand will be lowest in last 4 years in 2024 due to rise in gold prices, increased investment in Gold ETFsApple creates a new record in iPhone sales after launch of iPhone 16 | ABP Paisa LiveIs China scared of Gautam Adani's Mega Project In Bhutan? Watch To Find Out | ABP Paisa Live

Photo Gallery

Embed widget