When you sell your old piece of jewellery to buy a new one, you are meant to pay capital gains tax on the sale. It is vital to note that the sale of gold, even for the purpose of buying a new ornament, is seen as the sale of an old asset. In Budget 2024, … Read more
I’m a US citizen holding an OCI (Overseas Citizen of India) card. I own three apartments in India that I purchased in the early 2010s. I plan to sell two of them—one in December and the other in February 2025. Against the sale of these two apartments, I plan to buy two new apartments. Can … Read more
I am a non-resident Indian Citizen working abroad. I sold my agricultural land on 15 October 2022. As per Sec, I deposited the indexed capital gain in a capital gain account with a nationalised bank. 54B to purchase another agricultural land within two years from the date of sale. i.e. by 14th October 2024. But … Read more
“Which mutual fund should I invest in?” It must have been the 20th time my sister had called to ask me this. As usual, I tried explaining the basics but was quickly interrupted this time. “Don’t waste my time, just tell me where most people are investing.” This was understandable. She had recently received a … Read more
Portfolio management services (PMS) are navigating new challenges after the Union Budget for 2024-25 increased tax on long-term capital gains (LTCG) and short-term capital gains (STCG). As stocks are held in the investor’s demat account in PMS, every buy and sell decision of the PMS manager has a tax impact for the investor, unlike a … Read more
Any capital gain or loss arising on the transfer of a capital asset is taxable in the hands of the person who had actually provided the funds for the investment. Therefore, even if the property is held jointly between your son and you, for tax purposes, the capital gains or loss is to be disclosed … Read more
The overarching theme of the Union Budget 2024-25 strikes a fine balance between addressing the pressing bottlenecks impacting economic growth, boosting the startup ecosystem, and laying the groundwork for a future-ready India. Tax relief, employment and green energy transition have emerged as some of the most important areas, sending a message of resilience, foresight and … Read more
The Union budget for 2024-25 has proposed several changes in the capital gains tax structure, some of which are surprising moves that the mutual fund industry and the wider market community were not prepared for. One of the most significant was the hike in long-term capital gains tax from 10% to 12.5%. The budget’s proposal … Read more
First things first. Keywords and slogans, like defence and railways, that dominated the previous budgets were missing this time. This was a Budget for coalition partners, towards which Nirmala Sitharaman has loosened the purse strings. A special financial support of ₹15,000 crore will be extended to Andhra Pradesh via multilateral agencies for development. New airports, … Read more
NEW DELHI : Ahead of the Union Budget 2024-25, rumours were rife that tax on futures and options (F&O) would be increased to curb the increasing retail participation in the derivatives market. But while the Centre didn’t touch F&O, barring a nominal increase in securities transaction tax (STT), it increased tax on short- and long-term … Read more