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
The concept is simple: For those living in apartments without enough space to install solar panels, SundayGrids helps you buy solar panels that are put up elsewhere. The electricity generated by these offsite panels is credited against your electricity bill. It’s a novel solution that makes users feel like they have solar installed at their … Read more
Independent content creators who have seen a spike in their earnings are flocking to financial advisers, wealth managers and chartered accountants (CAs) to avoid tax troubles and plan investments in everything from financial instruments and real estate to startups. “The broad theme that we have learned while working on content creators’ portfolios is that the … Read more
Several political leaders are demanding the withdrawal of the Goods and Services Tax (GST) imposed on life and health insurance policies. Ministers and politicians such as Congress leader Rahul Gandhi, West Bengal Chief Minister Mamata Banerjee, and Union Minister Nitin Gadkari, have voiced their concerns over high GST rates on insurance as it is a major impediment … Read more
In a recent interview, Finance Minister Nirmala Sitharaman revealed that the Union Budget 2024 aims to provide relief to the middle class, albeit within certain limitations. Nirmala Sitharaman stated, “I want to relieve the middle class, but I have limitations too. I want to give relief by reducing the tax rate, and that is why … Read more
With the introduction of GST, most of the goods were subsumed in the newly enacted law, except five products in the oil and gas sector — crude oil, petrol, diesel, natural gas, and jet fuel, which till date are liable to excise duty as states were not ready to bring these high-revenue-grossing goods into the … Read more
The hospitality sector should be given the status of an industry in the upcoming Union Budget to accelarate growth, senior executives from the sector told LiveMint. The sector has made “substantial contributions” to the nation’s gross domestic product (GDP), is labour and capital intensive, and brings in foreign exchange revenues, they pointed out. “The industry’s … Read more