14/8/2024, 12:38:02 pm

NRI cannot claim LTCG indexation benefit while selling property in India

In Budget 2024, Finance Minister Nirmala Sitharaman proposed reducing the LTCG tax on property to 12.5% from 20% while removing the benefit of indexation, impacting homeowners. After much debate, the government offered partial relief to property owners by allowing them to choose indexation benefits for long-term capital gains (LTCG).