Budget 2024 - Tax on property sale: New LTCG Rule on Property

Arabian Petroleum Ltd. Ipo27 Jul, 2024Business

The recent budget has introduced significant changes to property taxes, impacting both traders and investors. Many believed that investing in property would yield substantial profits, but new tax regulations have led to increased liabilities. This article will explore how these changes affect property owners and investors, focusing on the long-term capital gains (LTCG) tax and the implications of removing indexation benefits.