New LTCG rule on property to hit homeowners hard: Below 9% annual property price growth, common in many cities, could mean higher loss now

Budget 2024 eliminated the indexation benefit on calculation of capital gain tax on property sales, imposing a flat 12.5% long-term capital gain tax instead. The Ministry claimed the majority of homeowners would benefit, but an analysis showed that those with slow or stagnant property growth will end up paying higher taxes now. Most major cities experienced below 9% property price growth over the past five years, burdening these homeowners further.

from Tax-Wealth-Economic Times https://ift.tt/Sw9FrhK