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Updates from Budget 2024: Changes in Capital Gains Taxation Key Highlights of the Amendment The Finance Bill 2024 has reinstated the option for taxpayers to avail indexation benefits on the sale of immovable property. Taxpayers now have the flexibility to choose between: A 12.5% tax rate without indexation, or A 20% tax rate with indexation. [...]

Selling capital assets for a profit often results in long-term capital gains tax, which can significantly impact finances. To mitigate this, the Income Tax Act offers provisions for exemptions, including investments in specific capital gain bonds under Section 54EC. This article provides an in-depth understanding of these bonds and their associated benefits. Understanding Section 54EC [...]

Investing in real estate remains a preferred choice for individuals seeking stable returns while minimizing risk. However, profits from property sales are subject to capital gains tax, which can significantly impact earnings. To provide relief, the Income Tax Act offers various exemptions, one of which is Section 54. Section 54 allows individuals who sell a [...]

The Union Budget 2023 introduced several changes to the tax structure, sparking discussions among taxpayers about whether to choose the old or new tax regime. In subsequent Budgets, including the one for 2024, the government made efforts to promote the adoption of the new tax regime. While the new tax regime has become the default [...]