Capital gains on sale of residential property_Amendment
This query is : Resolved
02 September 2024
Dear experts,
Individual is selling a residential property in Sep 2024. This is bought in the year 2006.
Now as per recent amendment, option is available to seller :
- 20% on capital gains with indexation
OR
- 12.5% on capital gains without indexation
which ever is beneficial to the seller
Is the above interpretaion correct?
Also different exemptions available after further investestment in assests exists? irrespective of option undertaken?
Pls advice
Regards,
Individual is selling a residential property in Sep 2024. This is bought in the year 2006.
Now as per recent amendment, option is available to seller :
- 20% on capital gains with indexation
OR
- 12.5% on capital gains without indexation
which ever is beneficial to the seller
Is the above interpretaion correct?
Also different exemptions available after further investestment in assests exists? irrespective of option undertaken?
Pls advice
Regards,
02 September 2024
1. Yes, you are correct.
2. Yes, exemptions on LTCG available under both options.
2. Yes, exemptions on LTCG available under both options.
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