Finance Minister Nirmala Sitharaman on Friday said the government is open to all views and feedback on the proposed tax changes in Budget 2024. However, she added that the Finance Bill is now under Parliament’s consideration and she cannot comment on it outside.
Sitharaman said this when she was asked if the government would review the removal of indexation benefit on the sale of real estate assets after several investors and the Opposition raised concerns about the withdrawal.
She was speaking during an industrial interaction ‘Budget Open House’, which was organised by the RP Sanjiv Goenka group in partnership with CNBC-TV18.
“I will hear all comments and suggestions with respect to tax changes but the Finance Bill now rests with Parliament. I can’t comment on it outside,” the finance minister said.
In the Union Budget 2024-25, the government has proposed to bring down the long-term capital gain ()LTCG tax rate on real estate assets to 12.5 per cent from the earlier 20 per cent. However, it also removed the indexation benefit to adjust for inflation. The new rates will be applicable starting from July 23, but properties bought before 2001 will be grandfathered and protected against the latest changes.
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