Capital gain tax after 23 jul 2024

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From 23 July 2024, the calculation for full exemption on long-term capital gains under sections 54/54EC will use sale consideration minus the cost of acquisition, not the indexed cost. This means the benefit of indexed cost of acquisition is no longer available for assets transferred after this date. While calculating tax liability, individuals and HUFs can choose between paying tax at 12.5% without indexation or 20% with indexation.

Krishna

Krishna (Querist)
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28 April 2025 In case of long term capital gain. From 23 jul 2024 to get full exemption of long term capital gain, amount needs to invest us 54/54EC is sale consideration minus cost of acquisition. Here indexed cost of acquisition benefit will not get. Because second proviso to section 48 says indexed cost is available only asset transfer takes place before 23 July 2024.

Only while calculating tax liability we can choose the option to pay tax @ 12.5 without index or 20% with index

Is this correct ?