Investors who decide to enter medium to long-duration funds should be cognisant of the risk.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
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Cabinet likely to pave way for the 'super-rich' tax today.
In order to provide relief in respect of gains arising on account of appreciation of rupee against a foreign currency at the time of redemption of masala bonds to secondary holders, the government has decided to amend the Income Tax Act.
Returns for income earned till FY12-13 can be filed till March 31.
The tax computation compares the original cost, along with the stock value on January 31, and grants benefit of the higher of the two.
The Budget announcement of taxing 'virtual digital assets' or crypto currencies will help the income-tax department measure the "depth" of this trade in the country, know the investors and the nature of their investments and it does not "attach any legality" to these transactions, Central Board of Direct Taxes chairman J B Mohapatra said.
The derivatives (futures and options) are not treated as capital asset and the income arising from the transfer of the derivatives is treated as business income and liable for normal rate of tax for domestic investors, an official statement said on Saturday, clarifying the stand of tax authorities on gains made from derivatives trading.
Right steps you can considerably reduce the tax outgo.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
Unless they have capital gains or assets abroad, most individuals will need to file ITR-1 or ITR-2A.
'It is the best avenue for investors who would like to take long-term exposure to gold.'
Want to know how to claim tax deduction on property income you earn? Do you know how to withdraw unclaimed EPF money?
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
It is very important to maintain your tax record even if you are not in the taxable income bracket as tax return papers are required when applying for a loan
If you have not yet filed an ITR for the 2022-2023 financial year, you can file a belated return.
What are FMPs and should you invest in them?
'I want us not to underestimate Indian voters. They can tell good work from bad.'
Experts are betting big on the clause that talks of capital gains.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Provisions of long-term capitals gains tax is now applicable after only two years.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
Dwaipayan Bose simplifies the whys and hows of revisiting your financial goals
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
Once again, tax demands on foreign investors cause worry.
The real estate sector is a major employment provider and the economy cannot afford its hard landing. Harsh Roongta suggests measures that can revive the under-construction market
Budget fails to cheer realty players.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
'SC and ST entrepreneurs are showing promise in starting and running businesses'.
Questions on the efficacy of the government's drive towards filing of more returns by individuals and on whether raising tax exemption levels has led to reduced compliance in filing of returns by those who go out of the tax net, says A K Bhattacharya.
Stick to low-cost ULIPs launched in the past few years. Go with an insurer with a good investment team and solid track record of long-term returns, suggests Sanjay Kumar Singh.
The existing double taxation avoidance agreements will not be covered by the proposed change, implying that in order to tax Facebook, Google and the like, India will require to renegotiate tax treaties.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Budget 2018 bears imprints of a government unsure of second term with clear majority, says Shekhar Gupta.
Tuesday's top gainers included SBI, UltraTech Cement, HDFC Bank, L&T, Bharti Airtel, Maruti Suzuki and Kotak Bank.
Investors, including large corporations, view them as a potential hedge against uncertainty, and mainstream investment banks too are jumping into the game.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
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