tax rate

Received an expensive gift this Diwali? You may be liable to pay income tax on it—check details

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Received an expensive gift this Diwali? You may be liable to pay income tax on it—check details

Have you received an expensive gift from someone this Diwali? It could be an expensive watch, a rare painting, a piece of jewellery, or even a pair of branded shoes. Although a gift is typically considered tax-free, when its value is more than ₹50,000, it is liable to income tax in the hands of the … Read more

Sold house in last 2 years? You may get both indexation benefit and lower 12.5% tax rate

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Sold house in last 2 years? You may get both indexation benefit and lower 12.5% tax rate

The Budget has dealt a blow to property owners by removing the indexation benefit. Previously, sellers could adjust the purchase price of a property for inflation, which would significantly reduce capital gains tax. The silver lining, however, is that the long-term capital gain (LTCG) tax has been reduced to 12.5% from 20% earlier. But, those … Read more