Budget 2024 for Real Estate: भारत में इन्वेस्टमेंट के नाम पर आम लोग सोना खरीदते हैं, घर खरीदते हैं और कुछ सालों के बाद घर बेचकर मुनाफा कमा लेते हैं, लेकिन वित्त मंत्री ने बजट के दौरान घर खरीदने और बेचने पर हो रहे मुनाफे का हिसाब बदल दिया. अब आपको प्रॉपर्टी बेचने पर सरकार को ज्यादा टैक्स देना पड़ेगा, क्योंकि बजट 2024 में फाइनेंस मिनिस्टर निर्मला सीतारमण ने सभी नॉन फाइनेंशियल एसेट्स में इंडेक्सेशन को पूरी तरह खत्म कर दिया गया है. इन नॉन फाइनेंशियल एसेट्स में प्रॉपर्टी, गोल्ड, सिल्वर जैसी चीजें आती हैं.
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#RealEstate #Budget2024 #BudgetForRealEstate #RealEstateBudget #Indexation #TaxBenefit #Taxpayer #IncomeTax
~HT.97~PR.147~ED.148~
budget 2024,budget highlights 2024,budget for real estate,budget 2024 for real estate,real estate budget 2024 hindi,real estate budget 2024,budget highlights 2024 hindi,2024 budget,2024 budget news hindi,india budget 2024 hindi,india budget 2024 explained,studyiq budget,indexation in budget hindi,indexation in budget 2024 in hindi,budget indexation,indexation budget 2024,indexation in budget 2024, Tax Payers,Removal Of Indexation Benefits
#RealEstate #Budget2024 #BudgetForRealEstate #RealEstateBudget #Indexation #TaxBenefit #Taxpayer #IncomeTax
~HT.97~PR.147~ED.148~
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NewsTranscript
00:00In India, in the name of investment, common people buy gold, buy houses, and assume that
00:09they sell the house after a few years and earn a profit.
00:12But the finance minister changed the account of the profit made on buying and selling houses
00:17during the budget.
00:18Now you will have to pay more tax to the government for selling the property because in Budget
00:232024, Finance Minister Nirmala Sitharaman has completely abolished indexation in non-financial
00:28assets.
00:29In non-financial assets, things like property, gold, and silver come, so let's try to understand
00:38what has changed and how will it impact you, how will this whole system change, how will
00:43it do it, we will try to understand through the help of the board through the calculation
00:47that what is indexation, how will it be calculated, how will you have to pay more tax to the government
00:55now.
00:56Hi this is Bhavna and you are watching GoodReturns.
00:58So what used to happen before was that the period of capital gain on gold was 36 months
01:03and there was a separate period on the property, along with this, the non-financial assets such
01:07as stocks, bonds, took a separate period, but now two periods will be applied in them, in
01:13which long-term capital gain after the first 12 months on the bond and long-term capital
01:20gain tax will be applied on gold and property after 24 months, the government has changed
01:24the rates of long-term capital gain tax, in which the tax rate was increased from 10%
01:30to 12.5% by investing in equity, mutual funds, and bonds, while in gold and property it was
01:37reduced from 20% to 12.5%, however, by thinking about it, you can be happy for a while that
01:44the government has reduced the long-term capital gain tax in gold and property, so now you
01:50will have to pay less tax, but the real story begins after this, because till now people
01:57used to get the benefit of indexation on selling gold and property, which has been eliminated
02:03in the tax system, now you must be thinking that what is indexation, so understand this
02:09too, see in indexation, the inflation rate, the repair of the property, or the money spent
02:15in its development is considered to be the base, and tax is exempted, on the basis of
02:20which, a person who has invested in a non-financial asset for a long time, after selling it, is
02:26exempted from the tax on the upcoming profit, the base year of indexation in the beginning
02:32of 1981-1982, which was the financial year, was considered a base year, but the tax payers
02:39had to face difficulties in valuating the assets purchased before April 1, 1981, so
02:46the government decided to change the base year to 2001, so that the valuation can be done
02:53properly, and at that time, indexation was considered 100.
02:58Now understand this with an example, that if you bought a property worth Rs. 10 lakh
03:03in 2001, and in the year 2024-25, you sell it for Rs. 90 lakh, so in this way, your profit
03:10of Rs. 80 lakh, or say that your capital gain happened, on this capital gain, LTCG means
03:16Long Term Capital Gain Tax, in which you used to reduce the indexation from Rs. 80 lakh,
03:23so you had to pay tax on the amount after that, but in this budget, the finance minister
03:28has done, that is, the benefit of indexation has been eliminated, after that the experts
03:32believe that now you will have to pay more tax in comparison to the previous one, which
03:37has also made it 20-12.5, but still you will have to pay more tax, now we will understand
03:43how to remove indexation, so before that, let's understand what CII is, and how we
03:50do it, because when I will explain the calculation to you, if you do not understand CII, then
03:55you will find the calculation a little complicated.
03:57See, in every financial year, to be used in the calculation of Income Tax Department Indexation
04:04Benefit, a Cost Inflation Index, which we call CII, is published.
04:09It is used to calculate the Inflation Adjustment Cost of Long Term Capital Asset.
04:15The CII number changes every year.
04:17The person who buys the property gets a number according to the year he bought it.
04:24It is obvious that when the property is sold, then also some number is going on.
04:29On the basis of these numbers, inflation is adjusted in the price.
04:33Now we will know how to remove indexation.
04:36We will definitely understand the calculation on the board.
04:39Before that, I will give you a little detail, a brief.
04:43In 2001-02, the indexation was 100, which has increased to 363 in 2024-25, i.e. 363.
04:50In this way, 10 lakh rupees of 2001-02 are multiplied by the Cost Inflation Index of
04:572024-25, which we call CII, and divided by the Cost Inflation Index of 2001-02.
05:04The amount that will come is minused from the amount sold, which will be your indexation
05:12and after minusing it from the amount sold, the amount that will come will be the Long
05:16Term Capital Gain Tax.
05:18Didn't you understand?
05:19Now I will explain to you with an example that how much did you buy a house in, how much
05:23did you sell and how much tax will be imposed on it.
05:26Now, like you bought a house in 2001 for 10 lakhs, then the house you sold in 2024,
05:32at that time our CII was 363, we multiplied it.
05:37In 2001-02, our CII was 100, we divided it.
05:42So after that, the amount of our indexation has come, it has come to our 36,30,000.
05:48Now our profit has happened, our profit has happened of 80 lakhs.
05:54From this, we will minus our indexation amount.
06:01It means 36,30,000.
06:06We will minus it from this.
06:08After that, the amount that will come will come.
06:13So this happened to us, 43,70,000.
06:17We had to give 20% on this.
06:19This is the scenario that I am telling you.
06:21This is our first scenario on which we had to pay capital gain tax.
06:25We had to pay 20% capital gain tax on this, which will be ours.
06:31Which will be our capital gain tax of Rs. 8,74,000.
06:37If we look at it according to the previous rule, 20%.
06:41But now there have been changes after this.
06:43Now it has been made 12.5.
06:46And along with that, the benefit of our indexation has been removed.
06:50Now we will understand its calculation once.
06:52The benefit of indexation has been removed.
06:55That is, this amount has also been removed.
06:59Now the tax that we have to pay is 12.5.
07:01Our revised capital gain tax.
07:03We have to give it to our profit, i.e. Rs. 8,00,000.
07:0712.5%
07:09Which is Rs. 10,00,000.
07:14That is, the tax that we had to pay before was Rs. 8,74,000.
07:20According to this calculation.
07:21But now we have to give it Rs. 10,00,000.
07:25That is, you did not benefit.
07:27But now you have to pay more tax.
07:29So on the part of the central government.
07:31In the long term capital gain tax calculation on the property.
07:35After removing the benefit of indexation.
07:37There was a heavy drop in real estate shares.
07:39Because of this, the discussion among the property buyers has begun.
07:43Will they benefit or lose?
07:45The government says that by removing the indexation.
07:48Taxpayer and tax department.
07:50The calculation of capital gain tax.
07:54Will be easier.
07:55What do you think?
07:57With the calculation we have tried to understand.
07:59In which you have to pay more tax.
08:01Do you think this decision is right or not?
08:04Is it for your benefit or not?
08:06Tell us by commenting.
08:08What is your opinion?
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