Based on the holding period, the profit you make is liable to short-term or long-term capital gains tax, experts tell Tinesh Bhasin.
The government has set a direct tax collection target of Rs 13.35 trillion, which includes Rs 7.66 trillion from corporation tax and Rs 5.69 trillion from personal income tax.
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
A cross-country comparison shows that India currently has the lowest number of taxpayers.
Experts believe the new norms may be an indirect way for Sebi to apply the brakes on dividend option plans in MFs.
The non-food component in the price basket will continue to keep inflation at a high level and result in a "long pause" in interest rates, a foreign bank said on Wednesday. The central bank is likely to pare the pandemic-driven emergency response as well, the report by Singaporean lender DBS said. It can be noted that the high inflation driven by the food prices has forced the RBI to go for a status quo in rates for the three consecutive reviews of the bi-monthly policy meetings, even as growth continues to be in the negative territory.
'It is less dependent on imported capital.'
Petrol and diesel prices on Thursday climbed to fresh highs in the country as rates were hiked by the most in recent times, even as fuel retailers said the government can cut taxes to ease consumer burden. Petrol and diesel price was hiked by 35 paise per litre each after a gap of a week, according to price notification of state-owned fuel retailers. The increase took petrol prices to a fresh high of Rs 86.65 a litre in Delhi and to Rs 93.20 in Mumbai.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The Centre's retreat from the farm laws is likely to have a significant bearing on the fate of laws that the Centre has made, for instance, in labour and electricity, predicts A K Bhattacharya.
The government on Monday clarified that transactions involving royalty/ technical services fee would be taxable under income-tax and not be liable for equalisation levy that is paid by foreign companies for conducting business with Indian parties, while explaining what would construe online sale of goods or services.
The coming Union Budget might give relief to foreign portfolio investors from taxation on indirect transfers.
The US is pressing for taxing digital economy through the 'marketing intangibles' principle and the UK through a 'user-base' principle.
Supposed to be one of the top-paid stars in Tamil cinema, actor Vijay is known for his big-ticket hits and commands good box-office opening.
EPF allows partial withdrawal to meet situations like house construction, medical emergency, and so on.
Deveshwar wondered whether the countries FUNDING the anti-smoking NGOs had pictorial warnings.
Investors must, however, be prepared for volatility in ELSS, cautions Sanjay Kumar Singh.
In May, India and Mauritius signed a protocol to introduce in-principle taxation of capital gains in India in a phased manner.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
To incentivise the Micro and Small enterprise is to offer them lower rates of interest based on their business turnover
He said the government has already begun implementing tax reforms.
While the PM sees zero tax on long-term capital gains and dividend income as unfair since the beneficiaries are not poor, he is silent on the fact that rich farmers too don't pay taxes, since farm income is tax-free, a loophole exploited by many netas and babus, says Debashis Basu.
Banks and friendly neighbourhood jewellers can serve as good channels to provide liquidity for gold deposits with built-in incentives for them, suggests Harsh Roongta.
While the American Club Cool Fresh Taste saw the minimum hike of 10 per cent, from Rs 200 to Rs 220 for a pack of 20 cigarettes, the price of Navy Cut Filter rose by about 16 per cent, at Rs 80 for a pack of 10 sticks. Flake Filter has become costlier by 14 per cent at Rs 80, while prices of Flake Special Filter, Flake Blue Special Filter and Wave Cool Mint rose by 20 per cent.
Finance Minister Nirmala Sitharaman while unveiling the Union Budget said the proposal would make India more attractive market for investment.
The Central Board of Secondary Education (CBSE) announced on Tuesday the schedule for classes 10 and 12 board exams which will begin on May 4.
With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. Das before donning the hat of RBI Governor was a career bureaucrat and was directly involved in crafting of about 10 Budgets for the country including one in the aftermath of global financial meltdown in different capacities at the finance ministry. In view of unprecedented pandemic and its impact on the economy, he said the government has maintained fiscal prudence in the response to deal with the crisis.
With supply of mobile chipsets running dry, manufacturers here are left with no option but to hike prices once again, making it the fourth round of increase in 2020.
Goods and Services Tax would usher in an unified indirect tax regime.
CBDT circular issued last month had raised multiple taxation concerns.
Finance Minister Nirmala Sitharaman on Tuesday said there were visible signs of revival in the economy but the GDP growth may be in the negative zone or near zero in the current fiscal.
The minister, while replying to the debate on Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020, was responding to various issues raised by the Congress and other Opposition parties about the PM CARES Fund.
In a most perverse example of tax bullying, someone I know has got by three such notices reopening his assessment minutes before the midnight deadline of June 30, reveals Debashis Basu.
The November 3 presidential poll is an "election of a lifetime" for it being held amid a pandemic and seeing the "highest participation" of India-Americans, according to eminent community leader Swadesh Chatterjee.
Petrol price can go down to Rs 75 a litre across the country if brought under the ambit of the Goods and Services Tax (GST), but there is a lack of political will, which is keeping Indian oil product prices at one of the highest in the world, economists at SBI said on Thursday.
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
However, where the directors' remuneration is in the nature of professional fees and not salary, GST will be levied on a reverse charge basis.
