AAP MP Raghav Chadha Expresses Happiness Over LTCG Indexation Revisions by Central Government, Offers ‘Two More Suggestions’

Raghav Chadha: The Union Budget, which contained a number of announcements, was announced by Finance Minister Nirmala Sitharaman on July 23, 2024. Among these, the Finance Minister announced a number of noteworthy tax-related developments, including modifications pertaining to real estate transactions. Notably, the real estate sector’s indexation benefits were eliminated by the Budget 2024, which infuriated a number of parties. The Long-Term Capital Gains regulations were amended on July 6 in response to this. MP Raghav Chadha went on to express his satisfaction with this development.

Raghav Chadha’s Response

Taking to social media platfrom X, AAP MP Raghav Chadha stated, “I am glad that the Hon’ble Finance Minister has restored Indexation benefit for Investors on Immovable Property.”

I am glad that the Hon’ble Finance Minister has restored Indexation benefit for Investors on Immovable Property. From the 23rd day of July 2024, the day the budget was presented, I have been unequivocally saying that the removal of Indexation would be the biggest blow to Indian… pic.twitter.com/Hmsp7UAbsF— Raghav Chadha (@raghav_chadha) August 6, 2024

He further wrote, “From the 23rd day of July 2024, the day the budget was presented, I have been unequivocally saying that the removal of Indexation would be the biggest blow to Indian investors. However, the Govt has partially restored Indexation, not fully restored. I have two more suggestions to offer in this regard.”

Chadha’s Suggestions for Further Improvement

Chadha also offered two additional suggestions for fully restoring the indexation benefits:

Provide Indexation benefit on assets purchased even AFTER the 24th July, 2024

Provide Indexation benefit on ALL Asset classes, not just on immovable property.

Impact of the LTCG Indexation Revisions

The recent amendments to the LTCG indexation now allow property owners to choose between a 20% tax rate with indexation or a 12.5% tax rate without indexation for long-term capital gains. The goal of these changes is to provide taxpayers with flexibility regarding the taxation of properties acquired before July 23, 2024, offering them the option to select between a lower tax rate with indexation benefits or a slightly higher rate without.

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