rediffGURU Vipul Bhavsar answers readers' personal income tax queries
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The FM also said the government has proposed a joint panel of Corporate Affairs Ministry and CBDT for incorporation of income computation and disclosure standards.
Indian stock markets witnessed a significant rebound, with the Sensex rallying 1,109 points and the Nifty closing above 22,720, driven by strong performances in IT and financial sectors, a recovering rupee, and Finance Minister Nirmala Sitharaman's comments on long-term capital gains (LTCG) tax.
The income tax department on Wednesday issued FAQs on changes in the capital gains tax saying the idea behind it was to simplify the tax structure and promote ease of compliance. The holding period for various asset classes for the purpose of short- and long-term capital gains tax has been rationalised. The holding period of all listed assets will be now one year for the purpose of long-term capital gains tax (LTCG).
Finance Minister Nirmala Sitharaman stated that the Reserve Bank of India (RBI) will persist in its efforts to prevent excessive volatility in the rupee, which has significantly depreciated against the US dollar due to global uncertainties, despite India's strong macro-economic fundamentals.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU T S Khurana answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Expectations are high regarding the change in LTCG with respect to equity investments.'
Taxpayers seeking to save tax from the sale of gold (including inherited) should reinvest the capital gains in residential property to avail of the benefit provided by Section 54F.
rediffGURU Mahesh Padmanabhan answers readers' personal income tax queries.
Eighteen mainboard IPOs raised Rs 28,976 crore and carry Rs 2.48 trillion of market value -- 8.6 times the capital raised.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
The Budget may tweak capital gains taxes levied on equity, debt and immovable property to bring parity in varied tax rates and holding period, a senior official said. Explaining the rationale, the official said there needs to have an alignment in tax rate and holding period for all the asset class. Changes in capital gain tax expected in Budget, the official said.
The Indian rupee has achieved its longest winning streak in nearly eight years, appreciating for eight consecutive sessions to close at a six-week high. This rally is attributed to strategic central bank interventions, healthy foreign capital inflows linked to the Jio Platforms IPO, and profit-taking in the US dollar.
Investors who have capital gains, have a variety of investment avenues, wherein they can park their capital gains. We have explored below the main investment products at the investor's disposal for offsetting capital gains.
In a case related to Mumbai-based Jai Trust versus Union government, the court ruled that a gift is a consideration-less transaction, and hence, not liable for capital gains tax. It quashes the reassessment notice issued by the tax authorities alleging that a specific income has escaped assessment on transfer of shares as gift by the trust.
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
Finance Minister Nirmala Sitharaman on Tuesday said the government plans to raise capital gains exemption limit on certain financial assets to Rs 1.25 lakh per year for middle and upper middle class.
The government on Wednesday imposed a limit of Rs 10 crore for deduction on long-term capital gain tax for reinvestment in residential properties under Section 54 and 54F of the Income Tax Act. These two sections deal with reinvestment of proceeds from sale of long-term assets (housing or other capital assets) to buy residential properties. "For better targeting of tax concessions and exemptions, I propose to cap deduction from capital gains on investment in residential houses under sections 54 and 54F to Rs 10 crore," Finance Minister Nirmala Sitharaman said in her Budget speech.
'Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest.'
The Securities Appellate Tribunal (SAT) has dismissed Ketan Parekh's appeal challenging Sebi's denial of his request to cross-examine two traders from Capital Group, related to an alleged front-running scheme.
That means making it easier to invest, protecting investors through predictable rules, and avoiding policy reversals after investments have been made, notes Rajeswari Sengupta.
The Reserve Bank of India (RBI) net bought $561 million in June, marking its first net purchase since February, following three consecutive months of net sales. This move coincided with a series of government and RBI measures to attract foreign capital, leading to a 0.36 per cent appreciation of the rupee against the dollar.
'Since the category has a limited track record, assess the fund manager's experience across equity and debt market cycles rather than relying only on past returns.'
Investors who bought attractively valued IPOs and held on have earned strong returns, particularly when the money raised went into companies rather than into the pockets of exiting shareholders.
Indian IT stocks have experienced their most significant weekly surge in 18 years, with the Nifty IT index climbing 11.72 per cent, as a global sell-off in AI-linked equities redirected investor attention towards India's IT services sector. This shift aligns with a JP Morgan report identifying India as a 'natural AI hedge' due to its large, liquid market and strong domestic institutional investor base.
The Reserve Bank of India (RBI) and the central government have introduced a package of measures, including tax exemptions for FPIs on government securities and a concessional foreign-exchange swap facility, aiming to attract up to $50 billion in foreign capital. This initiative is designed to strengthen India's balance of payments and potentially cover the projected BoP gap for FY27.
An IPO can create excitement, particularly when you see a new issue attracting strong interest from investors. But popularity alone does not make an IPO suitable for every investor. Before you apply, it's crucial to scrutinise the financial performance, risk profile, and valuation of the company. Ultimately, your objective should be choosing a company that aligns with your financial goals.
Jantar Mantar, a historic protest site in New Delhi, is facing de-notification by Delhi Police, raising concerns about its future as a space for public dissent. The site has been central to numerous significant movements, from Anna Hazare's anti-corruption fast and the Nirbhaya protests to recent agitations over NEET paper leaks and wrestlers' grievances. Its proximity to power centres made it a crucial platform for citizens to voice concerns and demand accountability, a role now threatened by its potential loss of status.
Over 5.9 crore Income Tax Returns (ITRs) were filed for Assessment Year 2026-27 by the July 31 deadline, according to the income tax department.
A dozen companies, including major players like Jio Platforms and Zetwerk Manufacturing Business, are poised to launch Initial Public Offerings (IPOs) in October, continuing India's strong fundraising momentum in the primary market. These offerings span diverse sectors, reflecting sustained investor interest in businesses with robust growth prospects.
Palghar police have appealed to victims of a ponzi scheme run by Rich 2 Money Private Limited to register complaints. The Economic Offences Wing has identified 48 defrauded investors, losing Rs 5.91 crore, with the company promising high returns on investments in share markets and F&O trading.
A Bain & Company report projects the global AI market must reach nearly USD 6 trillion annually by 2031 to sustain massive infrastructure investments. This growth will largely depend on new innovations beyond productivity gains, with a significant gap needing to be filled by emerging revenue streams like autonomous vehicles, physical AI, and new AI-driven products. The report also highlights the surge in hardware and semiconductor industries due to AI compute demand and the importance of AI absorption for Indian companies.
Gold prices in India have fallen for the third consecutive day, shedding Rs 1,800 to Rs 1.5 lakh per 10 grams, primarily due to a strengthening rupee and weak global cues. Silver also saw a significant decline, tumbling Rs 5,000 to Rs 2.21 lakh per 10 grams.
HSBC has emerged as the leading international bank in facilitating fundraising for Indian companies through bonds, syndicated loans, and IPOs during January-September 2026, according to Hitendra Dave, CEO of HSBC India.
A report by IIT Bombay suggests that the proposed Merchant Discount Rate (MDR) framework for Unified Payments Interface (UPI) transactions needs rationalisation before implementation to safeguard public trust in the digital payments system, highlighting that UPI's long-term economic benefits outweigh potential incremental income from merchant fees.
The Delhi High Court on Wednesday sought a report from jail authorities regarding the non-appearance of separatist leader Yasin Malik for a virtual hearing in a terror funding case. The National Investigation Agency (NIA) is seeking the death penalty for Malik, who is currently serving a life term, arguing that his guilty plea should not preclude capital punishment for a terrorist. Malik had previously expressed a desire to argue in-person against the NIA's plea.
