Mr. Anil I purchased a House Plot 60X40 ft during 2001. Now I am trying to sell the plot. Pl. clarify whether I will not get any Indexation Benefit on Acquisition Cost / Buy Cost as per this new Budget. I am Retired Pvt Employee and this Plot is with me for last 23 Yrs. Pl. advise how to reduce LTCG Tax burden.
K. Ravindranath , Hyderabad
Ans: Dear Kolli,
The Finance Ministry has clarified that house property bought before 2001 is eligible for indexation benefit, not on or after.
Best Regards,
Anil Rego,
Founder & CEO,
Right Horizons