We all know that Finance Minister have announced Finance Act 2024. On 23rd July She announced numerous tax updates where Sale of Immovable Property also a part. According to that, Any Immovable Property sold after 23rd July 2024 does not have indexation benefit and taxed at 12.5%. Now I want to know whether there any option for assessee to opt for 20% rate or to go with this new one. Because numerous sources talked about this second option too. Please clarify.
3 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 28 October 2024
" ....... Any Immovable Property sold after 23rd July 2024 does have indexation benefit and taxed at 12.5%. ..... " ????
Can you justify your statement with any authentic source !!
sabyasachi mukherjee
(27574 Points)
Replied 31 October 2024
Indexation on sale of immovable property is required a
Rakesh Kumar Verma
(40 Points)
Replied 05 November 2024
When indexation on house property under sale can be permitted?
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