Long-term and Short-term capital gains tax changes summary
Summary of capital gains tax changes made today.
Don't be fooled by the lowering of LTCG on unlisted assets. The indexation benefits on unlisted assets were great and now in most cases you will end up paying more tax.
I know it’s has huge implications but was reading a post on this, it also depends on the rate of return someone is getting on the sale of property. If ROR is really good in a 15-20 year period then even after new rate of 12.5% a seller will end up paying less tax. Tbh it’s not that simple.
Explain here
Also, @BiryaniEnthu the clause for Gains from RE used to buy RE are exempt so no need to worry about taxation if funds used to buy another property within 6 months
Hey! Thanks for checking on this clause. Of what little I understand of RE, 6 months is too difficult to sell and buy one. You have to have both options finalised beforehand. The paperwork takes longer 😥
Mango people or Aam janta will not sell unless they are close to finalise something. For them buying a property is not an investment. It’s for their own living. This is my assumption.
