Devdiscourse News Desk - Real Estate Sector Cheers Major Tax Relief in Property Transactions
Real estate industry leaders are applauding Finance Minister Nirmala Sitharaman's proposed amendment to the Finance Bill, which aims to provide significant relief on capital gains tax in property transactions.
The amendment offers taxpayers the option to calculate taxes at either 12.5% without indexation or 20% with indexation on real estate transactions involving long-term capital assets acquired before July 23, 2024. This change is expected to stimulate investment and boost sales across all housing segments, according to industry experts like Niranjan Hiranandani, Chairman of Hiranandani Group, and NAREDCO.
