Union Finance Minister of Government of India, Ms. Nirmala Sitharaman, while presenting the union budget for financial year 2024-2025, stated that the indexation benefits on real estate sales for the properties purchased on or after 1st April 2001 shall be abolished, along with reducing long – term capital gain tax (“LTCG”) rate from 20% (Twenty percent) to 12.5% (Twelve point five percent).
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