Govt gives option on capital gains tax on property

August 06, 2024 22:21

Illustration: Uttam Ghosh/Rediff.com

The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.

As per the amendments to Finance Bill, 2024, circulated to Lok Sabha members, an individual or HUF buying houses before July 23, 2024, can compute his taxes under the new scheme of 12.5 per cent without indexation and the old scheme of 20 per cent with indexation and pay such tax which is lower of the two.

« Back to LIVE

TOP STORIES

Co-conspirator arrested in Baba Siddique murder case

The Mumbai police have arrested a 28-year-old man from Pune who along with his brother "enlisted" two of the three alleged shooters in the Baba Siddique murder case, an official said on Sunday.

Some leads found in Siddique murder case: Fadnavis

Different angles behind the killing were being probed, but the police will talk about it later, Fadnavis, who holds charge of the state home department, told reporters in Gondia district.

Post hints at Bishnoi gang link to Siddique murder

According to a police official, they have come across a viral post on social media in the name of an alleged member of the Lawrence Bishnoi gang claiming responsibility for Baba Siddique's murder.

Central rule lifted in Jammu and Kashmir after 7 years

The National Conference-Congress alliance won the recent Jammu and Kashmir assembly elections and is set to form the government.NC vice president Omar Abdullah will be the next chief minister of Jammu and Kashmir.

Women's T20 WC: India lose to Aus; semis hopes fade

IMAGES from the Women's T20 World Cup match between India and Australia in Sharjah on Sunday