‘Indexation will benefit most. Govt may forego revenue from real estate capital gains changes’
Business new tamfitronics Revenue Secretary Sanjay Malhotra says that the govt has not estimated any revenue gain from changes in capital gains tax on real estate. In an interview to TOI, Malhotra says people are not looking at the reduction in tax rate from 20% to 12.5%There are apprehensions about the changes to capital gains tax, particularly from the real estate point of view as indexation has been scrapped.Could you explain the impact on taxpayers?This exercise should be seen as a rationalisation exercise. It’s a simplification exercise. Govt has always endeavoured towards a simple tax regime, one that is easy to comprehend and easy to implement. In line with this vision, govt introduced GST. It was a monumental reform. Similarly, even on the income tax side, you have seen a number of...
