On 7 August 2024, India's Lok Sabha (the lower house of Parliament) passed the Finance (No. 2) Bill 2024, which now goes to the Rajya Sabha (upper house). The version of the bill passed by the Lok Sabha includes certain amendments. The main amendment concerns the long-term capital gains tax rate on real estate property, which was previously proposed to be reduced to a flat rate of 12.5% without…