The United States leads the world in cases of COVID-19.

The United States leads the world in cases of COVID-19. We'll provide the latest updates on coronavirus cases, government response, impacts to our daily life, and more.

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Naga Chaitanya opens up on media reporting on his divorce with Samantha Ruth Prabhu, 'thing that bothers me is...'

Naga Chaitanya and Samantha Ruth Prabhu met on a film sets in 2010 and fell in love. The duo dated for severall years before tying the knot in a lavish ceremony in 2017.

Coronavirus LIVE Updates: India Logs 1.72 Lakh New Cases, Positivity Rate At 10.99%

Coronavirus LIVE Updates: India Logs 1.72 Lakh New Cases, Positivity Rate At 10.99%

Coronavirus LIVE Updates: India Logs 1.72 Lakh New Cases, Positivity Rate At 10.99%

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In Budget, Nirmala Sitharaman announced withdrawal of indexation benefits from real estate and lowered the long-term capital gains (LTCG) tax from 20% to 12.5%

The Centre has moved an amendment allowing long-term capital gains taxes on property purchases made before July 23, 2024, to be calculated under the new 12.5 per cent rate without indexation and the old 20 per cent rate with indexation. As per the amendment introduced by the government following Budget 2024 announcement by Finance minister Nirmala Sitharaman taxpayers can choose the more favourable option of the two mentioned above. This change will be introduced in the Finance Bill which was tabled in the Lok Sabha on August 6.

What Nirmala Sitharaman announced in Budget 2024?

In Budget 2024, Nirmala Sitharaman announced withdrawal of indexation benefits from real estate and lowered the long-term capital gains (LTCG) tax from 20% to 12.5%. This was criticized by industry experts who pointed out that a large number of real estate owners- especially those owning residential property- may see a significant increase in their tax burden once new regime kicks in.