Quote on Budget Reaction by Bhavik Thakkar, CEO, Abans Investment Managers Pvt Ltd

2024-07-24 03:01:32 pm | Source: PR Agency

Quote on Budget Reaction by Bhavik Thakkar, CEO, Abans Investment Managers Pvt Ltd

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Below the Quote on Budget Reaction by Bhavik Thakkar, CEO, Abans Investment Managers Pvt Ltd

The removal of indexation benefit for property and other assets will increase tax outflows. For example, if you had bought a property for Rs.100 in 2001 and sold it for Rs.500 in 2024, as per earlier tax regime (when indexation benefit allowed), the tax outflows even at 20% rate would have been Rs.27.4 (as CII for FY25 is 363) whereas as per today’s budget announcement, the tax outflow at 12.50% rate would be Rs.50. This may potentially impact secondary sales of properties.

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Quote on Budget Reaction by Bhavik Thakkar, CEO, Abans Investment Managers Pvt Ltd

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