LTCG Calculation FY 24-25

Dear Experts,

Can you pls help understand what all heads can be claimed under new LTCG calculations for this FY ( 2024-25 ) considering indexation is excluded by govt ?

1. Loan interest amount ? 

2. Improvement cost ( interior ) ?

3. Brokerage cost ( separately during purchase and sale time ) ?

4 . Stamp duty during purchase ?

5. Lawyer / notary Fee ?

6 . 1% TDS for seller ?

7 . Periodic Renovation cost ? 

Replies (3)
Quick Summary
This discussion clarifies which expenses can be claimed under the new Long Term Capital Gains (LTCG) tax rules for FY 2024-25, following the exclusion of indexation. Key deductible costs include property improvements, brokerage fees for both purchase and sale, stamp duty, and legal fees. Loan interest and seller's TDS are generally not claimable against LTCG. Periodic renovation costs may be deductible depending on specific circumstances.

1. Loan interest amount  No

2. Improvement cost ( interior ) yes 

3. Brokerage cost ( separately during purchase and sale time ) yes

4 . Stamp duty during purchase yes

5. Lawyer / notary Fee yes

6 . 1% TDS for seller No

7 . Periodic Renovation cost  depends

Thanks Anoop Ji , that helped. 

People should be crystal clear on buying property with bank loans . Its not only a sheer waste of your huge hard earned money but also a death trap ( mortgage literally means the same ) , Which we all should stay away from . 

Taxpayers can claim interest on their housing loan in their ITR when filing it. If they purchase a commercial property, they can claim these benefits in their profit and loss statement.

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