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
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
Propshare, a fractional real estate platform, recently became the first player to secure an SM (small and medium) Reit licence from Sebi. SM Reits are real estate investment trusts with an asset base between ₹50 crore and ₹500 crore. However, Propshare’s existing investors rejected the migration to SM Reit status. High upfront costs, including a … Read more
The employee can save some tax by opting for the old regime if he can make tax-saving investments and has expenses of at least ₹4.84 lakh. Now, only ₹1.5 lakh worth of investments are allowed as tax deductions, while ₹3.35 lakh or more has to come from expenses like home loans, house rent allowance and … Read more
Budget 2024: Presenting her seventh Union Budget in Lok Sabha, Finance Minister Nirmala Sitharaman on Tuesday announced the scrapping of angel tax for all investors. Venture investors hailed the proposed abolition of the decade-old tax regime as “a huge reform.” Harsh Bhuta, Partner, Bhuta Shah, and Co LLP said that removing Angel Tax marks a … 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
Budget 2024 introduces much-needed relief for taxpayers by easing the rules for initiating prosecution proceedings in cases of TDS defaults. This move aims to streamline tax laws and reduce the litigation burden on taxpayers. Currently, tax laws consider delays in the payment of taxes deducted at source as a criminal offence if not paid or … Read more
Companies reward shareholders by way of dividend payment or share buybacks. Both are done from tax-paid reserves and company profits. Such payments not only reward shareholders, but are also used as tools of wealth distribution and efficient allocation of capital. For example, a company that’s in a mature businessmay not find viable opportunities to deploy … Read more
The changes in the capital gains tax announced in the Union budget for FY25 are rational decisions that will benefit people in most scenarios, and it is for the government to decide on the suggestions that come up, Central Board of Direct Taxes chairperson Ravi Agarwal said in an interview. “We feel that this … Read more
My relative was diagnosed with a rare form of cancer requiring treatment of several lakhs. To support him, a few extended family members plan to create a corpus of ₹20 lakh to ensure a regular income stream to meet his basic expenses. Against this backdrop, kindly advise on the following: 1. Will the corpus we … Read more