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Is index cost applicable to my long-term capital gains from property sale?

Anil

Anil Rego  |388 Answers  |Ask -

Financial Planner - Answered on Jul 31, 2024

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
SANJAY Question by SANJAY on Jul 31, 2024Hindi
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I HAVE SOLD ONE PROPERTY IN JUNE 2024 RESULTING A PROFIT OF RS. 2.00 LACS LONG TERM CAPITAL GAIN, BEFORE NEW AMENDMENT OF LTCG TAX LAWS,. PLEASE LET ME KNOW THAT THE INDEX COST WILL BE APPLICABLE IN THAT CASE OR NOT AND WHAT % OF TAX I HAVE TO PAY I.E. 20% OR 12.5%

Ans: Hi,
The change in LTCG for real estate has been made effective from July 23, 2024. Since you have sold the property before this date, you should be able to apply for LTCG at old taxation with indexation.

Best Regards,
Anil Rego,
Founder & CEO,
Right Horizons
Asked on - Aug 01, 2024 | Not Answered yet
THANKS A LOT, U AND ALL OTHERS LIKE U ARE VERY MUCH HELPING TO THE COMMUNITY AND OTHERS LIKE ME, ONCE AGAIN THANKS A LOT.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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