finance-no.2-act-2024 GAGETTE OF INDIA RELEASED 16TH AUGUST 2024 ON chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://incometaxindia.gov.in/news/finance-no.2-act-2024.pdf
NOYHING ABOUT INDEXSATION OR GRANDFATHERING IN THIS DOCUMENT ONLY MENSSIONED BEFORE AND AFTER 23RD JULY 2024
SO TO SAY INDEXSATION OR GRANDFATHERING APLICABLE ONLY BEFORE 23RD JULY 2024
Thanks for sharing this, Jagdish!
From what you’ve observed, the Finance Act No. 2, 2024, released on 16th August 2024, specifically mentions provisions applying before and after 23rd July 2024 but doesn’t explicitly discuss indexation or grandfathering beyond that date.
Your takeaway that indexation or grandfathering benefits might only apply to transactions before 23rd July 2024 seems correct based on this document. This could imply that capital gains computations and exemptions post-23rd July 2024 may be treated differently—possibly without indexation or grandfathering.
This would be a significant change in tax treatment, so it’s good to watch out for any official clarifications or notifications following this release.
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