Which IT office handles property sale ITR in Mumbai?

Property sale ITR is filed electronically on incometax.gov.in, processed by CPC Bengaluru. Buyer files Form 26QB for TDS separately. CGAS deposits at specified bank branches in Mumbai. Sub-registrar registration data is shared with the IT Department. No physical filing required. Patron handles all electronic filings for Mumbai property sellers.

What is the LTCG tax rate on property sale?

For property acquired before 23 July 2024 and sold after: choose between 12.5% without indexation or 20% with indexation (lower tax applies). Post-23 July 2024 acquisition: 12.5% without indexation only. STCG (held less than 24 months): applicable slab rates. For long-held Mumbai properties (10-20+ years), the indexation method typically results in lower tax. Patron computes both for every eligible sale.

What exemptions can I claim on property sale?

Three key exemptions: Section 54 – reinvest LTCG in new residential house within 2 years purchase or 3 years construction (cap Rs 10 crore). Section 54EC – invest in NHAI/REC bonds within 6 months (cap Rs 50 lakh). Section 54F – reinvest net consideration in residential house if no other house owned. If reinvestment not completed before 31 July, deposit in Capital Gains Account Scheme at specified bank.

How much TDS is deducted on property sale?

Resident sellers: 1% on sale consideration if Rs 50 lakh or more (Section 194IA, buyer deducts via Form 26QB). NRI sellers: 12.5% on LTCG or 30% on STCG on full sale consideration. NRIs can obtain Section 197 lower deduction certificate to reduce TDS to actual liability. TDS credited to seller's Form 26AS and claimed in ITR.

What is the Capital Gains Account Scheme?

If Section 54 or 54F reinvestment is not completed before the 31 July ITR due date, the exempt amount must be deposited in a Capital Gains Account at specified bank (SBI, BOI, PNB etc.) before the due date. This protects the exemption claim. Amount can be withdrawn later for purchasing or constructing the new house. If not utilised within timeframe, deposit taxed as capital gains.

Is indexation still available for property?

Only for property acquired before 23 July 2024. Seller chooses 12.5% LTCG without indexation or 20% with indexation (whichever results in lower tax). Post-23 July 2024 acquisition: no indexation, flat 12.5% rate. CII (Cost Inflation Index) used for indexation. Patron computes both options for every eligible Mumbai property sale.

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ITR for Property Sale in Mumbai: Compute Capital Gains, Claim Exemptions, Minimise Tax

Q: How is inherited property sale taxed in Mumbai?

Cost of acquisition is the cost to the previous owner (not inherited value). Holding period includes previous owner's period. CII indexation from year of original acquisition by previous owner. If acquired before 1 April 2001, FMV as on that date can be used. For Mumbai families holding Dadar or South Mumbai properties 30-50+ years, indexed cost significantly reduces LTCG. Quick Answers Property bechne pe kitna tax lagta hai Mumbai mein? LTCG: 12.5% (without indexation) ya 20% (with indexation, agar 23 July 2024 se pehle kharidi thi) – jo kam ho wo lagta hai. STCG: slab rate se. Section 54 mein naya ghar kharid ke exemption lo (cap Rs 10 crore). TDS kitna katega property sale pe? Resident: 1% on Rs 50 lakh+ sale. NRI: 12.5% (LTCG) ya 30% (STCG). Buyer katata hai Form 26QB se. Seller ko ITR mein credit milta hai. CGAS kya hai aur kab zaruri hai? Agar Section 54/54F ka exemption claim kar rahe ho lekin naya ghar nahi kharida 31 July tak, toh exempt amount CGAS account mein deposit karo. Warna exemption cancel ho jayega. 19 authorised banks mein account khol sakte ho.

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LTCG Rate: 12.5% without indexation OR 20% with indexation (pre-23 Jul 2024 acquisition – lower of two)

TDS (194IA): 1% on sale consideration ≥ Rs 50 lakh (buyer deducts) | NRI: 12.5% LTCG / 30% STCG

Exemptions: Section 54 (house, cap Rs 10 cr) | Section 54EC (NHAI/REC bonds, cap Rs 50L) | Section 54F

CGAS: Deposit in Capital Gains Account if reinvestment not completed before 31 July ITR due date

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ITR for Property Sale in Mumbai – Overview

📌 TL;DR - ITR for Property Sale Services at a Glance

Every person selling immovable property (flat, house, plot, commercial unit) in Mumbai must report the capital gains in their Income Tax Return. Mumbai has India's highest property values – a standard 2BHK in Bandra sells for Rs 3-5 crore, a South Mumbai apartment for Rs 10-50 crore, and even Thane/Navi Mumbai properties command Rs 50 lakh-2 crore. Virtually every Mumbai property sale generates significant capital gains. The Budget 2024 changes (effective 23 July 2024) introduced a dual-rate system: sellers who acquired property before 23 July 2024 can choose between 12.5% LTCG without indexation or 20% with indexation (whichever is lower), while property acquired after that date is taxed at flat 12.5% without indexation.

Mumbai's property market is the most valuable in India. South Mumbai (Malabar Hill, Cuffe Parade) commands Rs 50,000-1,50,000 per sq ft. BKC, Worli, and Bandra range Rs 30,000-80,000 per sq ft. Powai, Andheri, and Goregaon at Rs 15,000-35,000 per sq ft. Even Thane and Navi Mumbai command Rs 5,000-15,000 per sq ft. With these values, a standard flat sale generates LTCG of Rs 20 lakh to Rs 5+ crore, making correct ITR filing and exemption planning critical. Learn more about ITR for Property Sale across India.

Patron Accounting's Mumbai office at Marine Lines provides complete property sale ITR filing – from LTCG computation with pre/post 23 July 2024 dual-rate analysis to Section 54/54EC/54F exemption structuring, CGAS deposits, NRI property sale TDS management, Section 50C stamp duty analysis, and e-filing on the income tax portal. For broader capital gains guidance, see ITR for Capital Gains.

Content is reviewed quarterly for accuracy.

What Is Property Sale Capital Gains?

Capital gains on property sale is the profit arising from the transfer (sale, exchange, or relinquishment) of immovable property, taxable under Section 45 of the Income Tax Act. The gain is computed as: Sale Consideration minus Cost of Acquisition (with indexation option for pre-23 July 2024 purchases) minus Cost of Improvement minus Transfer Expenses.

Property held for more than 24 months is a Long-Term Capital Asset (LTCA) generating LTCG. Property held 24 months or less generates STCG. LTCG is taxed at 12.5% without indexation or 20% with indexation (for pre-23 July 2024 acquisitions, whichever is lower). STCG is taxed at applicable slab rates. Filing Income Tax Return is mandatory for every property seller.

For Mumbai property sellers, three factors add complexity. First, Mumbai's high values mean virtually every sale exceeds the Rs 50 lakh TDS threshold (Section 194IA). Second, the wide gap between original purchase price and current values (properties appreciate 5-15x over 15-20 years) creates large LTCG requiring exemption planning. Third, many Mumbai properties involve redevelopment (SRA/cluster schemes), joint ownership, inherited properties, and society transfers needing specialised computation. NRI property sellers face higher TDS rates and need Section 197 certificates.

Key Terms for ITR for Property Sale:

Section 45: Capital gains charging section – profit from transfer of immovable property
Section 54: LTCG exemption for reinvesting in new house – purchase within 2 years / construct within 3 years, cap Rs 10 crore
Section 54EC: LTCG exemption for NHAI/REC bonds within 6 months, cap Rs 50 lakh, 5-year lock-in
Section 194IA: 1% TDS on property sale ≥ Rs 50 lakh (buyer deducts via Form 26QB)
Section 50C: Stamp duty value deemed as sale consideration if actual price is below (10% tolerance)
CGAS: Capital Gains Account Scheme – deposit at specified bank to protect exemption when reinvestment pending before ITR due date

CA-Assisted Property Sale ITR

Who Must File Property Sale ITR in Mumbai?

Flat/apartment sellers across Mumbai – From Rs 60 lakh Thane apartments to Rs 50 crore South Mumbai penthouses. Every sale above Rs 50 lakh triggers 1% TDS. ITR must be filed to report capital gains and claim TDS credit, even if net tax is nil after exemptions.

BKC, Worli, and Bandra premium sellers – High-value transactions generating LTCG of Rs 50 lakh to Rs 5+ crore. Pre/post 23 July 2024 indexation analysis is critical. Patron computes both methods and applies the lower tax.

Powai, Andheri, and Goregaon mid-segment sellers – Properties Rs 1-5 crore. Exemption planning under Section 54 essential. Many sellers are upgrading within Mumbai, making Section 54 directly applicable.

NRI sellers of Mumbai property – Buyer deducts TDS at 12.5% (LTCG) or 30% (STCG) – substantially higher than 1% for residents. ITR-2 essential to claim exemptions and recover excess TDS. ITR for NRI covers comprehensive NRI filing guidance. Section 197 certificates reduce upfront TDS.

Inherited property sellers – Mumbai properties inherited from parents/grandparents. Cost = cost to previous owner. Indexation from year of original purchase. Holding period includes previous owner's. Common in Dadar, Girgaon, South Mumbai where families hold property for 30-50+ years.

Redeveloped property sellers – Mumbai's SRA and cluster schemes (Parel, Girgaon, Lower Parel) create complex capital gains computation involving original tenement cost and new flat proceeds.

Commercial property and plot sellers – BKC/Nariman Point offices and Thane/Navi Mumbai plots. Same LTCG/STCG rules. Section 54 NOT available for commercial (Section 54F may apply).

Joint property sellers – Each owner reports their share in their individual ITR. TDS split by ownership percentage. Both owners file separately.

Property Sale ITR Filing Services Included

Service	What We Do
Dual-Rate LTCG Computation	12.5% without indexation AND 20% with indexation computed for every pre-23 July 2024 Mumbai property sale. Lower tax applied. For 10-20+ year holdings, indexation often saves lakhs
Section 54/54EC/54F Exemption Structuring	Optimal combination strategy: 54EC bonds (Rs 50L cap, immediate) + Section 54 house purchase (Rs 10 cr cap) + CGAS deposit. Maximum tax savings designed for each seller
CGAS Coordination	Capital Gains Account opening at specified bank (SBI, BOI, PNB). Deposit before 31 July to protect exemption claim. Withdrawal coordination for house purchase within timeframe
TDS Reconciliation (194IA)	Verifying buyer's 1% TDS, Form 26QB filing, and Form 16B issuance. NRI 12.5%/30% TDS verification. Installment TDS across financial years
NRI Property Sale Management	Section 197 lower deduction certificate (before sale), LTCG with exemptions, CGAS deposit, ITR-2 filing, TDS refund recovery, repatriation guidance
Section 50C Stamp Duty Analysis	Ready Reckoner value comparison with sale price. 10% tolerance band check. Section 50C adjustment risk assessment for every Mumbai property sale
Inherited Property Capital Gains	Previous owner cost determination, CII indexation from original acquisition year, FMV as on 01.04.2001 for pre-2001 properties
Redeveloped Property Gains	Original tenement cost, developer payments, new flat valuation. Specialised capital gains computation for SRA/cluster scheme Mumbai properties

Our Process

Property Sale ITR Filing Process in Mumbai

Patron Accounting's Mumbai team follows a structured 6-step process. All filings are electronic on incometax.gov.in. Our Marine Lines office provides free LTCG assessment for Mumbai property sellers.

Step 1

Gather Sale & Purchase Documents

Collect registered sale deed, original purchase deed/agreement, stamp duty receipts (both purchase and sale), cost of improvement records, broker commission receipts, Form 16B (TDS certificate from buyer), and Form 26AS/AIS. For inherited property: previous owner's purchase deed, death certificate, will/succession certificate.

Documents compiledOwnership verified

Docs Ready01

Step 2

Compute Capital Gains (Dual Rate)

Calculate LTCG under both methods for pre-23 July 2024 acquisitions: (a) 12.5% without indexation on (Sale Price − Original Cost − Improvements), (b) 20% with indexation on (Sale Price − Indexed Cost − Indexed Improvements). Apply lower tax. For Worli flat bought 2005 and sold 2025, indexation typically saves Rs 3-10+ lakh.

Both methods computedLower tax applied

LTCG Computed02

Step 3

Structure Exemptions & CGAS

Apply Section 54 (new house, cap Rs 10 crore), Section 54EC (NHAI/REC bonds, cap Rs 50 lakh within 6 months), Section 54F (any long-term asset to house). If reinvestment not completed before 31 July, deposit exempt amount in Capital Gains Account at specified bank (SBI/BOI/PNB). Patron coordinates CGAS 15 days before due date.

Exemptions structuredCGAS deposited

Exemptions Secured03

Step 4

Reconcile TDS & Pay Advance Tax

Verify 1% TDS (Section 194IA) from Form 26AS matches buyer's deduction. For NRIs, verify 12.5%/30% TDS. Compute advance tax for the quarter of sale. For Mumbai sellers with both TDS and advance tax credits, compute net tax payable (often nil or refund-generating after exemptions).

TDS reconciledAdvance tax paid

Tax Settled04

Step 5

File ITR-2 with Schedule CG

Populate Schedule CG with property sale details: sale consideration, cost of acquisition (indexed and non-indexed), cost of improvement, exemptions claimed (54/54EC/54F), CGAS deposit details, net taxable gain. Bifurcate pre/post 23 July 2024 as required. File on incometax.gov.in. Patron files by 15 July for Mumbai property sellers.

Schedule CG populatedFiled before deadline

ITR Filed05

Step 6

E-Verify & Monitor Processing

E-verify within 30 days. CPC Bengaluru issues Section 143(1) intimation. Common post-filing issues: TDS mismatch (buyer PAN error in Form 26QB), Section 50C stamp duty adjustment notice, CGAS deposit verification. Patron handles all post-filing responses for Mumbai property sale clients.

E-verifiedPost-filing managed

Complete06

Documents Required for Property Sale ITR in Mumbai

Sale Deed (Registered): Executed and registered at Mumbai sub-registrar office with sale consideration, stamp duty, registration details
Original Purchase Deed/Agreement: Original acquisition document. For inherited property: previous owner's purchase deed, death certificate, will/succession certificate
Stamp Duty Receipts: Both purchase and sale stamp duty payments. Mumbai: 5% + 1% metro cess + 1% registration
Cost of Improvement Records: Renovation, interior work, structural modification invoices from contractors
Broker Commission Receipts: Commission paid to real estate agents (typically 1-2% in Mumbai)
TDS Certificate (Form 16B): From buyer after filing Form 26QB. NRI sellers: certificate showing 12.5%/30% TDS
Form 26AS / AIS: Verify TDS credit and property transaction reporting
Reinvestment Proof: New house purchase deed, NHAI/REC bond certificate, or CGAS deposit passbook

Mumbai-Specific Tip: Mumbai property transactions frequently involve Ready Reckoner (RR) values that differ from actual sale price. If sale price is below RR value (minus 10% tolerance), the IT Department may apply Section 50C and treat RR value as sale consideration, increasing LTCG. Patron analyses RR values for every Mumbai property sale to assess Section 50C risk.

Common Challenges in Property Sale ITR in Mumbai

Challenge	Impact	How Patron Accounting Solves It
Pre/Post 23 July 2024 Indexation Decision	Mumbai sellers with pre-23 Jul acquisition must choose between 12.5% (no indexation) or 20% (with indexation). For long-held properties, savings can be Rs 3-10+ lakh. Recently acquired: 12.5% may be lower	Dual computation for every eligible sale. CII-based indexed cost calculated. Lower tax automatically applied
Section 50C Stamp Duty Adjustment	Ready Reckoner rates sometimes exceed actual market prices. Sale below RR value (minus 10% tolerance) triggers deemed consideration, increasing LTCG	Ready Reckoner analysis for every sale. Tolerance band check. Risk assessment and documentation
NRI Property Sale TDS Burden	NRIs face 12.5%/30% TDS on full consideration (not just gains). On Rs 3 crore BKC flat: Rs 37.5 lakh TDS upfront, actual tax may be Rs 5 lakh. Cash flow impact significant	Section 197 lower deduction certificate before sale. Reduces upfront TDS to actual liability. TDS refund via ITR
CGAS Deposit Timing	Section 54/54F claimants must deposit in CGAS before 31 July if reinvestment incomplete. Failing permanently invalidates exemption worth lakhs-crores	CGAS account opening and deposit coordinated 15 days before due date. Every Mumbai seller with pending reinvestment covered
Redeveloped Property Capital Gains	SRA/cluster schemes (Parel, Girgaon) create complex situations: original tenement cost, developer payments, new flat valuation needed for computation	Specialised redevelopment capital gains computation. Original cost determination. New flat deemed consideration analysis

Property Sale ITR Filing Fees in Mumbai

Fee Component	Amount
LTCG Tax	12.5% without indexation OR 20% with indexation (lower for pre-23 Jul 2024)
STCG Tax	Applicable slab rates (held < 24 months)
TDS (Section 194IA)	1% on sale consideration ≥ Rs 50 lakh (buyer deducts)
NRI TDS	12.5% (LTCG) or 30% (STCG) on full consideration
Stamp Duty (Mumbai)	5% + 1% metro cess + 1% registration
Late Fee (Section 234F)	Rs 5,000
Patron Fee – Resident Property Sale	Starting Rs 5,000 (LTCG + exemptions + CGAS + filing)
Patron Fee – NRI Property Sale	Starting Rs 10,000 (Section 197 + LTCG + TDS refund)
Patron Fee – Inherited Property	Starting Rs 7,000 (previous owner cost + indexation)
Patron Fee – Redeveloped Property	Starting Rs 8,000 (original cost + new flat gains)

All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.

Professional service charges for drafting, filing, and representation are separate from the statutory fees. The exact fee depends on the complexity of the case, disputed amount, and number of hearings required. Contact us for a detailed quote.

Get a free ITR for Property Sale consultation - Call +91 945 945 6700 or WhatsApp us. No-obligation assessment.

Property Sale Exemptions for Mumbai Sellers

Stage	Estimated Timeline
Section 54 – House to House	Reinvest LTCG in new residential house within 1 yr before / 2 yrs after sale OR construct within 3 yrs. Cap Rs 10 crore
Section 54EC – NHAI/REC Bonds	Invest LTCG in bonds within 6 months of sale. Cap Rs 50 lakh. 5-year lock-in
Section 54F – Any Asset to House	Reinvest net consideration from any long-term asset in house. No monetary cap (proportionate if partial)
CGAS Deposit	Deposit exempt amount in Capital Gains Account at specified bank before 31 July if reinvestment pending
Section 54 (2 Houses Option)	LTCG up to Rs 2 crore reinvested in 2 houses. Once-in-lifetime

Mumbai Combination Strategy: For LTCG exceeding Rs 50 lakh: (1) Invest Rs 50 lakh in Section 54EC bonds immediately (no property search needed), (2) Deposit remaining exempt amount in CGAS before 31 July, (3) Purchase/construct new house using CGAS withdrawal within 2/3 years. This secures the exemption while preserving flexibility. Patron structures this for all high-value Mumbai property sellers.

Key Benefits

Why Choose Patron for Property Sale ITR in Mumbai

Mumbai Office at Marine Lines

Walk-in for LTCG computation, exemption planning, and ITR filing. Central location for South Mumbai, BKC, Bandra, Powai, and Thane property sellers.

Dual Indexation Computation

12.5% (no indexation) AND 20% (with indexation) computed for every pre-23 July 2024 sale. Lower tax applied. For long-held Mumbai properties, savings of Rs 2-10+ lakh.

Exemption Structuring

Section 54 + Section 54EC combination strategy for high-value sellers. CGAS deposit coordination before due date. Section 54F for commercial property sellers.

NRI Property Sale Specialist

Section 197 lower TDS certificates, LTCG with exemptions, CGAS deposit, ITR-2 filing, TDS refund recovery. Hundreds of NRI Mumbai property sales handled.

Trusted by Mumbai Property Sellers

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“Patron saved me Rs 12 lakh on my Bandra flat sale by applying the indexation method and structuring Section 54 + 54EC exemptions together.”

— Property Seller, Mumbai

Offices in Pune, Mumbai, Delhi, and Gurugram serving property sellers with capital gains ITR.

Property Capital Gains Tax Rates for Mumbai Sellers

Scenario	Holding Period	Tax Rate	Mumbai Example
LTCG (pre-23 Jul 2024 acquisition)	24+ months	12.5% OR 20% (lower)	BKC flat bought 2008, sold 2025 – indexation saves lakhs
LTCG (post-23 Jul 2024 acquisition)	24+ months	12.5% flat	Thane flat bought Aug 2024, sold 2027
STCG	< 24 months	Slab rates	Andheri flat bought and sold within 2 years
NRI LTCG	24+ months	12.5% (TDS on full consideration)	NRI selling Bandra flat – TDS 12.5% upfront, refund via ITR
NRI STCG	< 24 months	30% (TDS on full consideration)	NRI selling recently purchased Powai flat
Inherited Property	Includes previous owner's holding	LTCG rates (usually)	Dadar flat held by family 30+ years – indexed cost reduces LTCG significantly

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Legal & Compliance Framework for Property Sale Taxation

Section 45: Capital gains charging section for property transfer
Section 194IA: TDS 1% on sale consideration ≥ Rs 50 lakh (buyer deducts via Form 26QB)
Section 50C: Stamp duty value deemed as sale consideration if actual < RR value (10% tolerance)
Section 54: LTCG exemption for residential house reinvested in new house (cap Rs 10 crore)
Section 54EC: LTCG invested in NHAI/REC bonds within 6 months (cap Rs 50 lakh, 5-year lock-in)
Section 54F: Net consideration from any long-term asset reinvested in house
Budget 2024: 12.5% without indexation OR 20% with indexation for pre-23 Jul property (lower of two)
CII 2025-26: 376 (used for indexation computation)
CGAS 1988: Deposit at specified bank if reinvestment pending before ITR due date
Section 197: Lower/nil TDS certificate for NRI property sales
Maharashtra Stamp Act: 5% + 1% metro cess + 1% registration in Mumbai municipal limits

Filing Portal: incometax.gov.in

Frequently Asked Questions – ITR for Property Sale in Mumbai

Get answers about LTCG rates, exemptions, TDS, CGAS, indexation, and NRI property sale taxation in Mumbai.

Quick Answers

Property bechne pe kitna tax lagta hai Mumbai mein? LTCG: 12.5% (without indexation) ya 20% (with indexation, agar 23 July 2024 se pehle kharidi thi) – jo kam ho wo lagta hai. STCG: slab rate se. Section 54 mein naya ghar kharid ke exemption lo (cap Rs 10 crore).

TDS kitna katega property sale pe? Resident: 1% on Rs 50 lakh+ sale. NRI: 12.5% (LTCG) ya 30% (STCG). Buyer katata hai Form 26QB se. Seller ko ITR mein credit milta hai.

CGAS kya hai aur kab zaruri hai? Agar Section 54/54F ka exemption claim kar rahe ho lekin naya ghar nahi kharida 31 July tak, toh exempt amount CGAS account mein deposit karo. Warna exemption cancel ho jayega. 19 authorised banks mein account khol sakte ho.

Don't Lose Your Property Sale Exemptions – File Before 31 July

Property sale ITR must be filed by 31 July to preserve Section 54/54EC/54F exemption claims. Missing the deadline without CGAS deposit permanently invalidates exemptions worth lakhs-crores. The IT Department receives property registration data directly from Mumbai sub-registrar offices, making non-filing easily detectable. For LTCG of Rs 50 lakh-5 crore (standard for Mumbai properties), the tax impact of missing exemptions can be Rs 6-60+ lakh.

File your property sale ITR with maximum exemptions – Call +91 945 945 6700 or WhatsApp us.

Get CA-Assisted Property Sale ITR Filing in Mumbai

ITR filing for property sale in Mumbai covers the city's entire real estate spectrum – from multi-crore South Mumbai penthouses to Thane affordable apartments, from inherited Dadar ancestral properties to redeveloped Parel flats, from NRI-owned Bandra apartments to joint-owned family properties.

Patron Accounting's Mumbai office at Marine Lines provides complete property sale ITR filing – dual-rate LTCG computation, Section 54/54EC/54F exemption structuring, CGAS coordination, NRI Section 197 lower TDS certificates, Section 50C stamp duty analysis, inherited and redeveloped property capital gains, TDS reconciliation, and e-filing with advance tax planning.

With offices in Pune, Mumbai, Delhi, and Gurugram, 10,000+ businesses served, and 4.9 Google rating, Patron Accounting LLP delivers tax-optimised property sale ITR filing across India.

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Property Sale ITR Filing Across India

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Content Created: 24 March 2026 | Last Updated: 24 March 2026 | Next Review: 24 June 2026 | Reviewed By: CA & CS Team, Patron Accounting LLP

This content is reviewed quarterly for accuracy of LTCG rates, indexation rules, exemption limits, and stamp duty. Freshness Tier: 1. Budget 2024 indexation changes effective 23 July 2024.

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