Sholay - Jai-Mausi (Property Indexation)
*Mousi to Jai:* Beta, I have got this message that they have restored the indexation benefit for the LTCG. Is it correct Beta? Jai : Yes, Yes Mousi ji, Hon. FM has announced in parliament that they have restored benefits of indexation. Now in case of LTCG from the transfer of land and buildings purchased before 23rd July 2024, the tax calculated @12.5% without indexation or @20% with indexation- whichever is lower, would be the tax liability. Mousi : Ok Beta, so all the assets purchased upto 22nd July 2024 would be eligible for indexation, right? Jai : Aree nahi Mousi. Only land and buildings would be eligible for this indexation benefit. Other assets like your jewellery etc. would not be eligible. Mousi : Samjhi, got it. Achha, I have a partnership with Basanti and we have purchased a land in that firm. Indexation benefit is available for this land- hai na? Jai : Na,na, na Mousi ji. Indexation benefit has been restored only for indi...
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