Union Budget 2024: Indexation removal may offset lower LTCG tax benefits for property transactions

The Union Budget for 2024-25 proposed a reduction in long-term capital gains (LTCG) tax rates from 20% to 12.5% for assets held over 24 months, aiming to benefit investors and property owners. However, the removal of indexation benefits, which adjust the purchase price of assets for inflation, may mitigate some of these gains.