I’ve taken a two-year leave of absence from my job to travel and indulge in my interests. My revenue from mutual fund redemptions last year was ₹5.1 lakh; all of these were long-term holdings. The approximate long term capital gain was ₹2 lakh. Is there going to be any tax due this year, and if … Read more
The finance minister’s latest announcement may have unsettled some investors, but the overarching goal of the Union budget is clear: simplification. For years, taxpayers have called for less confusion and more straightforward tax compliance. In response, the Finance Bill 2024 introduces changes designed to streamline capital gains provisions significantly. Currently, the capital gains regime features … Read more
The Union budget 2024-25 was presented in Parliament by a coalition government. While it broadly signals ‘change with continuity’, it has some interesting dimensions beyond the numbers and the fiscal math. For one thing, there are references to reviews of certain key policy frameworks and other initiatives such as on foreign direct investment (FDI) and … Read more
The real estate sector was one of the worst performers on July 23, following the announcement in the Budget 2024 to remove indexation benefits associated with the sale of property. The Nifty Realty index fell nearly 2 percent, contrasting with a flat Nifty. During her budget speech, Finance Minister Nirmala Sitharaman announced a reduction in … Read more
As the Budget 2024 is around the corner, taxpayers are expecting some major overhaul in the capital gains tax. Thanks to the series of provisions that come into play while computing long term capital gains, investors and taxpayers are hoping for the revision in the legislation so that the confusion around capital gains tax, and … Read more