Relief for homeowners Govt allows flexibility in LTCG tax calculation
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In the recent Union budget when the Modi government's removed the indexation benefits on the sale of asset, the decision sparked outrage from the middle class as indexation has historically allowed homeowners to account for inflation in tax calculations. During announcement made during union budget, government states that by removing indexation, the government aims to simplify the tax calculation process, but this change has led to higher tax liabilities for property owners, as the original purchase price is now used for calculating capital gains without adjustment for inflation.
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Relief for homeowners Govt allows flexibility in LTCG tax calculation
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