Property tax liability is restricted by the Income Tax Appellate Tribunal, which prevents authorities from taxing a spouse solely due to name inclusion.

A significant ruling by the Income Tax Appellate Tribunal clarifies that indexation for Long-Term Capital Gains (LTCG) on inherited real estate must commence from the original owner’s acquisition year, not the date of inheritance. This decision offers substantial potential tax savings for heirs selling ancestral assets.

Learn how indexation reduces capital gains tax on real estate by adjusting asset costs for inflation. Discover the latest tax updates, benefits, and calculation methods to maximize your savings.