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Indexation benefit, 'right to be forgotten', and Manu Bhaker's 2nd bronze
Aug 1, 2024
Udit Misra discusses the government's recent removal of indexation benefits, analyzing potential hikes in taxes and impacts on real estate. Apurva Vishwanath sheds light on the burgeoning global demand for the 'right to be forgotten' and its implications in India, touching on privacy issues in the digital age. Finally, Manu Bhaker, a trailblazing athlete, shares her excitement about making history as the first Indian to win two medals at the same Olympics, marking an inspiring moment for sports in the country.
25:57
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Quick takeaways
- The removal of indexation benefits by the government raises concerns over increased tax liabilities for property sellers, despite lower tax rates on long-term capital gains.
- Manu Bhaker's historic achievement of winning two Olympic medals highlights the growing prominence of Indian shooting and inspires future athletes with her resilience and teamwork.
Deep dives
Understanding Indexation Benefits in Real Estate Transactions
The removal of indexation benefits by the government has sparked confusion and concern among property sellers regarding potential tax implications. Indexation benefits previously allowed sellers to adjust the purchase price of a property for inflation, effectively reducing taxable capital gains. For example, if a property was purchased for one lakh and sold for two lakh after inflation adjustments, the taxable gain could decrease significantly, potentially lowering tax liabilities. With the new changes, even though the tax rate on long-term capital gains has been reduced, the loss of indexation can lead to higher taxable amounts for sellers, depending on inflation rates and property value increases.
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Discover
highlights
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