NDTV profit - Centre's New Tax Option For Long-Term Capital Gains Brings Relief To Property Owners: Experts
The amendment came after the new provision was criticised for raising tax incidence and disincentivizing investments in real estate. Realtors body NAREDCO President G Hari Babu termed it as a balanced approach by the government. "This decision is poised to bring significant relief to property owners and investors who were concerned about the removal of indexation benefits. By providing an option the amendment addresses the needs of long-term investors who might have otherwise faced a disproportionate tax burden due to the withdrawal of indexation," he said. The Naredco President said this move is likely to mitigate concerns around increased cash transactions and potential resurgence of black money in the sector.
