The recent amendment to the long-term capital gains tax provisions for real estate in the Finance (No. 2) Bill, 2024, is a significant relief for homeowners. By allowing property owners to compute taxes using the old rules for properties purchased before July 23, 2024, the government ensures a fairer tax burden. At Sinhasi Consultants, we had highlighted the potential impact of the earlier changes, and this revision aligns with our recommendations for more equitable taxation.
