Tuesday, 10 January 2017

Abolish long-term capital gains tax on real estate

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Tech investor TV Mohandas Pai today pitched for abolishing capital gains tax on sale of land and property, and gold if held for more than three years, amidst reports that real estate and the yellow metal generate the largest quantum of black money. Stating that time has now come to tackle the sources of black money after demonetisation, the former Chief Financial Officer of IT major Infosys said registration charges on land and property across India annually are estimated at around Rs 1 lakh crore.

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