Tax relief for property sale: Choose between Flat rate of 12.5% or 20% with Indexation

Income Tax relief for property sale. Now you can Choose between Flat rate of 12.5% or 20% with Indexation for property acquired prior to July 23, 2024.

Capital gain on Sale of Immovable Property

CA Pratibha Goyal | Aug 6, 2024 |

Tax relief for property sale: Choose between Flat rate of 12.5% or 20% with Indexation

Tax relief for property sale: Choose between Flat rate of 12.5% or 20% with Indexation

The government is allowing Taxpayers to choose between more beneficial rate of 12.5% without Indexation or 20% with Indexation for property acquired prior to July 23, 2024.

The relevant screenshot of amendments to Finance Bill (No. 2) 2024 is given below:

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.

List of Amendments to be moved by the Finance Minister related to Budget 2024 is given below.

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Author Bio
CA Pratibha Goyal
Designation: Co Founder
Company: Studycafe
Location: Delhi, India
Total Posts: 1158

CA Pratibha Goyal is Chartered Accountant qualified in 2016, is a Member of The Institute of Chartered Accountants of India having wide experience in the field of Auditing, Taxation, ROC, GST and Secretarial matters etc. She has written over a thousand articles & has made several videos on topics related to Auditing & Taxation. As a Speaker she has delivered various sessions on various branches of NIRC of ICAI.

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