In the previous case, you at least made a profit to pay the capital gains. Now, let's take a scenario where you bought an apartment in January 2018 for ₹80 lakhs and sold it today for ₹95 lakhs due to a personal emergency. This is where it gets tough. If indexation was applicable, you actually made a loss of ₹11.76 lakhs and would have paid 'Zero' LTCG tax. But with the new method, @nsitharaman will add salt to your wound. She will take ₹1.87 lakhs from you as LTCG. Your net loss becomes ₹13.63 lakhs. Again you might spent many many lakhs more in loan interest alone. Removing indexation defeats the whole purpose of LTCG. This affects everyone and will push more people to undervalue their transactions, increasing the use of black money. This makes real estate investments less attractive and could drive our construction sector into a even bigger crisis. (2/3)