• The government has introduced an amendment allowing taxpayers to choose between a 12.5% LTCG rate without indexation or a 20% rate with indexation for properties acquired before July 23, 2024.
• This decision came in response to backlash from the real estate sector over the proposed removal of indexation benefits for long-term capital gains in real estate.
• The move aims to address concerns about a significant tax burden for taxpayers and the potential for increased illicit financial activities in property deals.