real estate-budget – Dnyan pravah news

Budget 2024: How will removal of indexation benefits for property sales impact real estate?

adminJuly 24, 202406 mins

[ad_1] In Budget 2024, Finance Minister Nirmala Sitharaman removed the indexation benefits previously available for property sales. Global brokerage house CLSA believes this move is negative for investments with shorter duration. The FM also announced a reduction in Long Term Capital Gains (LTCG) Tax on property sales from 20% to 12.5%. “With the rationalisation of…

Income Tax Budget 2024: Now you can’t show rental income under ’gains of business’ head to evade tax. Why it matters

adminJuly 23, 202403 mins

[ad_1] Your income from letting out of a house or part of your house will henceforth not be charged under the head ‘profits and gains of business or profession’. Instead, it will be chargeable only under the head ‘income from house property’. The government announced this change in tax regulation in the Union Budget 2024. …