After a stellar 2023, the mutual fund industry sustained its growth momentum in 2024 with an impressive Rs 17 lakh crore surge in assets, driven by buoyant equity markets, robust economic growth, and increasing investor participation. Experts are predicting the positive trend will extend into 2025.
The government on Tuesday proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers.
Any education loan taken for full-time studies for any graduate or post-graduate course in engineering, medicine, management or for post-graduate course in applied sciences or pure science qualifies for deduction u/s 80E. The tax benefit is available only for the interest component and not for principal repayment, says direct tax expert Vikas Gandhi.
If, as promised, the refunds are done within 24 hours it will obviate one of the biggest reasons that taxpayers distrust the tax department -- delayed refunds especially in cases of large refunds.
Only those who stick to the old I-T regime will get this benefit.
With Donald Trump all set to become US president, Indian exporters may face high customs duties for goods like automobiles, textiles and pharmaceuticals if the new US administration decides to pursue the 'America First' agenda, opined trade experts. Experts also said that Trump could also tighten H-1B visa rules, impacting costs and growth for Indian IT firms. Over 80 per cent of India's IT export earnings come from the US, making it vulnerable to changes in visa policies.
You don't need to pay tax while selling old car, says tax expert Vikas Gandhi.
Direct tax expert Vikas Gandhi offers some valuable tips on investments.
There has been criticism of the new tax forms with experts and consultants saying government was seeking too much data. They felt that the addition of new information would make the process of filing returns difficult.
Seems daunting? With right financial planning, patience, and commitment, this goal is entirely achievable, says Ramalingam Kalirajan. Here's how
Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief.
Your employer has deducted more tax than was due to you. Here's how you can claim your tax refund now.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
While the minimum holding period for LTCG taxation has now been lowered, the tax outgo could be a bit higher under the new structure.
Direct tax expert Vikas M Gandhi offers some valuable tax-saving tips.
Direct tax expert Vikas M Gandhi offered some valuable tips on tax saving during a chat on Thursday.
Brokers believe that the higher charges may not completely deter investors from taking bets in F&O but could help cool down some activity, as the threshold to break even rises.
Gift is not regarded as an expense and hence whatever amount of gift you give, you will not be able to reduce it from your taxable income, says tax expert Vikas Gandhi.
Follow this 15 x 15 x 15 rule to become a crorepati without taking big risks. Ramalingam Kalirajan explains how
For being eligible for tax benefit, the minimum period of fixed deposit has to be of 5 years. Since the period you have mentioned is 4 years, you won't be eligible for the tax benefit u/s 80C.
Car loan is not eligible for any tax exemption similar to that of house loan, says direct tax expert Vikas Gandhi.
Mortgage loan won't qualify for benefits under Income Tax, says tax expert Vikas Gandhi.
Miss the March 31, 2018 deadline to file belated tax return for FY16, and risk an I-T notice and a hefty fine.
'Genuine' share transfer gets relief; CBDT lists three scenarios where tax would be levied
Suresh Narayanan, chairman and managing director of Nestl India, is set to retire on July 31 next year, marking the end of an era that began 26 years ago with the Nestl group, a multinational giant in the food and beverage space. His tenure is perhaps most famously defined by his role in reviving the Maggi noodles brand. When Narayanan stepped into leadership at Nestl India in 2015, the company was facing criticism: the Food Safety and Standards Authority of India (FSSAI) had ordered a nationwide recall of the popular Maggi noodles due to high levels of lead found in the product.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Direct tax expert Vikas M Gandhi offered some valuable tips on tax planning.
In a chat on Thursday, direct tax expert Vikas M Gandhi offered some valuable tax filing tips.
'Ensure that all property-related documents are up-to-date.' 'Relying on outdated documents can create legal complications.'
Tax expert Vikas Gandhi advises tax payers to keep their PAN data updated. In case of change in address, one can download a form from the website of NSDL http://tin-nsdl.com, fill it up and submit to NSDL with suppoprting documents. In addition it will be advisable if to intimate the Income Tax Officer about such change in writing. If an NRI is drawing income in India, he needs to get a PAN card and file income tax returns too as this income would be taxable in India.
Mahesh Padmanabhan of RelaxWithTax has the answers to your tax related queries.
Interest paid on loan on mortage of house will not bring the same tax deduction as from rental income, says direct tax expert Vikas Gandhi.
Foreign investors have injected close to Rs 33,700 crore in domestic equities in this month so far primarily due to interest rate cut in the US and resilience of the Indian market. This also marks the second highest inflow in a month in this year so far, the last one being in March, when Foreign Portfolio Investors (FPIs) infused Rs 35,100 crore, data with the depositories showed. Going ahead, the trend of FPIs buying is likely to continue in the coming days, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
The Supreme Court is scheduled to pronounce on Thursday its order on a batch of PILs on the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations.
The Securities and Exchange Board of India (Sebi) is likely to notify soon stricter derivatives trading norms aimed at curbing speculative trading activity and curtailing losses of over Rs 50,000 crore incurred by retail investors every year. Based on the feedback received from industry participants, seven measures proposed by the market regulator in a consultation paper in July may be implemented with minor tweaks ahead of its forthcoming board meeting, said sources.
In case of a physically handicapped person, he gets a threshold deduction of Rs 50,000 from the taxable income. Further if such disability is more than 80%, the limit of Rs 50,000 increase to Rs 75,000. Thus in your case you will be starting paying tax only when your income exceeds Rs 1,60,000.
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
Whatever your queries, tax expert Mahesh Padmanabhan will answer them and give you tips on tax planning on Friday, February 2, between 4 pm and 5 pm IST. Join us then
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
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