Budget and taxes: A balancing act between short-term challenges and long-term growth

Budget and taxes: A balancing act between short-term challenges and long-term growth

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

Income Tax Budget 2024: Now you can’t show rental income under ’gains of business’ head to evade tax. Why it matters

Income Tax Budget 2024: Now you can’t show rental income under ’gains of business’ head to evade tax. Why it matters

Your income from letting out of a house or part of your house will henceforth not be charged under the head ‘profits and gains of business or profession’. Instead, it will be chargeable only under the head ‘income from house property’. The government announced this change in tax regulation in the Union Budget 2024.  It … Read more