Budget 2024 has reduced the tax on long-term capital gains arising on the sale of immovable property from 20% to 12.5%, without indexation. Taxpayers took to social media platforms to voice their concerns on how property prices will be calculated to determine long-term capital gains following Budget 2024. Does the Finance Act, 2024, amend the rule to calculate the property's base price? Can you add stamp duty, home loan interest amount to your property's cost while calculating capital gains during sale now? All your queries on new capital gains rules on property answered.
