Arun Jaitley had proposed in the Budget to double the rate of capital gains tax on debt MFs to 20%.
Want to know how to claim tax deduction on property income you earn? Do you know how to withdraw unclaimed EPF money?
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
The free food scheme is driven by electoral considerations, but its long-term fiscal risks outweigh the short-term gains, cautions A K Bhattacharya.
'It's a clear case of political patronage helping an individual grow.'
SpiceJet Ltd on Monday said it has hived off its cargo and logistics business SpiceXpress into a separate entity -- SpiceXpress and Logistics Pvt Ltd, from April 1. The move results in a one-time gain of Rs 2,555.77 crore for SpiceJet, substantially reducing its negative net worth, the company said. It also paves the way for SpiceXpress to raise funds independently, SpiceJet said.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
In a live chat on rediff.com held on Friday, July 11, well-known equity specialist Devang Mehta discussed what effect the Budget will have on the stock markets -- from how NOT to lose money in the markets to which are the safest stocks.
'The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.'
Financial planners also believe that retail investors should avoid the IPOs or direct stock route because it is too risky for them.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
Investors with moderate risk profile and investment horizon of over three years could look at investing in balanced funds.
'Good investment opportunities should not be missed.'
Rules applicable from April 1, 2014; investors who have already redeemed will also have to pay tax
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The government is likely to file an appeal against the Cairn arbitration award contesting its sovereign rights to tax, sources said.
Customers need to weigh whether they will be better off selling their mutual fund holdings or taking a loan against it.
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Covid winter seems to be finally ending for debt-oriented mutual fund (MF) schemes as interest rates peak, especially for those that invest in shorter-maturity papers. In the past two months, shorter-horizon debt schemes - ultra-short, low-duration, and money-market - have together raked in net inflows of Rs 48,000 crore, the highest for two months since April-May 2021. These schemes invest in shorter-maturity papers ranging from three months to a year.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
Such schemes try to exploit an anomaly in taxation, but aren't in violation of laws, experts say.
Sebi has initiated action against companies suspected to be existing 'only on paper'.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
P&G Hygiene and Healthcare's June quarter numbers were better than Street estimates, led by strong sales and robust margins. The company, which owns leading consumer brands like Whisper, Vicks and Old Spice, posted a 12.6 per cent year-on-year (Y-o-Y) growth in sales at Rs 852.5 crore during the quarter. The double digit sales growth, led by expansion of its distribution reach, reverses a sluggish sales graph with three of the last four quarters reporting a fall in sales.
You also avoid capital gains tax during redemption in case the gold price is higher, making them tax efficient.
Since infrastructure projects have long gestation periods, investors need to enter them with a long horizon of at least 10 years.
There is positive correlation between crude oil prices and Indian equities and investors can expect more upside after the recent rally in Brent crude price.
After holding discussions with the FM, the Sebi chief said the government thought it was an opportune time to levy the LTCG tax as the "markets are booming."
How the Aadhar card would be linked to income tax return is yet not clear
It is best to invest long-term surplus in stocks or equity mutual funds.
Instead of getting swayed by market gyrations, investors must stay invested for the long term, advises Sarbajeet K Sen.
'Investors with as little as Rs 1 can start investing in digital gold.'
Private equity investing can be rewarding, but an investor needs to be patient as exiting can be tricky and these assets do not provide instant liquidity.
Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said recently, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24). The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges. According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis.
Nifty could fall to 9,500 levels; not a good time to bottom fish, say experts
When you buy a stock, especially a mid- and small-cap one, have a price target. Once you hit the target, exit the stock, advises Joydeep Ghosh.
In an online chat with readers on August 10, Vidya Bala, Vidya Bala, head of mutual fund research at FundsIndia, answered their queries. For hose who missed the chat, here is the transcript.
NEET is a court-ordered examination, supposedly aimed at meritocracy. However, over the past years when the incumbent Narendra Modi government at the Centre began implementing it, it took on political and casteist colours, observes N Sathiya Moorthy.
One category which stands out is fixed maturity plans due to its tax benefits, notes Prateek Mehta, CEO and company-co-founder, Upwardly.in.
