The government is set to allow taxpayers to avail either a lower rate of 12.5% without indexation or a higher rate of 20% with indexation, if property is acquired prior to July 23, 2024.
The relief is proposed in respect of the taxation of immovable property:
Not just real estate indexation, the government has also proposed to revert to 10% LTCG for unlisted securities bought before July 23.
The Finance Bill had proposed raising it to 12.5%.
It must be noted that the LTCG relief is applicable only to immovable assets, i.e. house, land, buildings and unlisted securities. No LTCG relief is proposed for listed equity shares and equity-oriented mutual funds.
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