Among its 27 recommendations for the Union Budget is this: It has suggested that equity investments held for more than one year and up to three years should be taxed at 12.5 per cent on gains exceeding 2 lakh in a financial year.
rediffGURU T S Khurana answers readers' personal income tax queries.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
'The original provision will be restored. AMT is meant only for those claiming deductions, not for firms earning regular income like capital gains,' a senior government official said.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Passive funds have resumed gaining ground in the mutual fund (MF) industry after a slowdown in 2024, with their share of assets under management (AUM) reaching an all-time high in 2025. The surge has been driven largely by robust inflows into gold and silver exchange-traded funds (ETFs).
Until now, salaried individuals having income under the head LTCG were required to file Form ITR-2.
rediffGURU T S Khurana answers readers' personal income tax queries
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
This exercise allows investors to realign their portfolios with changing market conditions and evolving personal objectives.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Most think tax-saving deductions exist only in the old regime. But the New one quietly retains 40+ ways to ease your tax load
rediffGURU T S Khurana answers readers' personal income tax queries
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
rediffGURU T S Khurana answers readers' personal income tax queries
The government's move to tweak the long-term capital gains (LTCG) tax regime proposed in the Finance Bill 2024 and re-introduce the indexation benefit is likely to boost the investments and spur housing sales in the country, industry executives believe. "By enabling taxpayers to choose the lower tax burden between the new and old schemes, the amendment is poised to drive investment and enhance sales across housing segments," said Niranjan Hiranandani, chairman of the Hiranandani Group. In Budget 2024, Union Finance Minister Nirmala Sitharaman proposed an overhaul in the capital gains tax regime, including lowering the LTCG tax to 12.5 per cent from 20 per cent.
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.
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
'Legally clean farmland is difficult to find. It requires time, money, and legal effort to verify the title.'
The government on Tuesday sought to address a significant concern stemming from the 2024-25 Budget announcement by introducing flexibility in the computation of long-term capital gains (LTCG) tax on unlisted assets, including properties. For any assets, such as land or buildings, acquired before July 23, taxpayers can choose between the new and old regimes, opting for whichever results in a lower tax liability. Under the new LTCG regime, the tax rate is set at 12.5 per cent without the benefit of indexation.
'First-time investors, busy professionals, NRIs and those with modest sums looking for curated strategies may find FoFs especially appealing.'
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
rediffGURU T S Khurana answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU T S Khurana answers readers' personal income tax queries.
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
rediffGURU T S Khurana answers readers' personal income tax queries
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
The income tax department has notified all seven income tax return forms for assessment year 2025-26. While ITR forms 1 and 4, which are filed by small and medium taxpayers, were notified on April 29; ITR-7, filed by trusts and charitable institutions, was notified on May 11.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU T S Khurana answers readers' personal income tax queries.
The income tax department has notified ITR forms 1 and 4 for assessment year (AY) 2025-26 that are to be filed by individuals and entities with total income of up to Rs 50 lakh a year. Now individuals having long-term capital gains of up to Rs 1.25 lakh in a fiscal year can also file ITR-1.
rediffGURU T S Khurana answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
The return filed could be treated as defective, invalid, or even be considered as not filed at all.
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