finance act

FMV, circle rates and capital gains: A guide for property sellers

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FMV, circle rates and capital gains: A guide for property sellers

The list of valuers registered with the Income Tax Department for valuation of immovable property is generally uploaded by the chief commissioner of income tax in charge of the particular region and can be found on the income tax website.  However, it is not mandatory to obtain the value as on 1 April 2001 from … Read more

Exiting your insurance? This expert suggests selling instead of surrendering

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Exiting your insurance? This expert suggests selling instead of surrendering

Perhaps influenced by LIC’s stance, the government amended the Insurance Act, 1938 in 2015 to discourage ‘trading’ in insurance policies.  Mehta approached the Supreme Court to clarify that a ‘one-time assignment’ was not considered ‘trading’ in life insurance. The court ruled in his favour saying that a ‘one-time assignment’ was not considered ‘trading’ in life … Read more