Capital gains tax reform: reduced holding period and targeted exemptions to promote affordable housing and real-estate investment. Key amendments modernise capital gains taxation and incentives for real estate: the holding period for immovable property to qualify as long-term is reduced to twenty-four months; affordable housing deductions are eased by adopting carpet area, widening geographic applicability, and extending completion timelines; land pooling transfers for the Andhra Pradesh capital are exempted with special cost basis rules; joint development agreements may defer capital gains until project completion with deemed consideration and a new withholding obligation on payments; the capital gains base year is shifted to 2001 and long-term bond exemptions are expanded to notified three-year bonds.
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Provisions expressly mentioned in the judgment/order text.
Capital gains tax reform: reduced holding period and targeted exemptions to promote affordable housing and real-estate investment.
Key amendments modernise capital gains taxation and incentives for real estate: the holding period for immovable property to qualify as long-term is reduced to twenty-four months; affordable housing deductions are eased by adopting carpet area, widening geographic applicability, and extending completion timelines; land pooling transfers for the Andhra Pradesh capital are exempted with special cost basis rules; joint development agreements may defer capital gains until project completion with deemed consideration and a new withholding obligation on payments; the capital gains base year is shifted to 2001 and long-term bond exemptions are expanded to notified three-year bonds.
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