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 Anil Rego answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'By investing in a basket of funds, FoFs can help minimise the impact of underperforming funds, thus reducing overall investment risk.'
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
IPOs inherently carry more risks than stocks that have been listed on the exchanges for some time.
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.
rediffGURU T S Khurana answers readers' personal income tax queries.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
Most investors should have a 5% to 10% allocation to gold for diversification. They should stagger their investments to mitigate timing risk.
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
Debt mutual funds are likely to be stripped of the long-term tax benefit if they invest less than 35 per cent of their assets in equities. Such mutual funds will attract short term capital gains tax. The government is likely to make such a proposal in the form of an amendment to the Finance Bill 2023 in the Parliament, sources said.
'Expectations are high regarding the change in LTCG with respect to equity investments.'
Do you know what tax-loss harvesting is? Does it help you save tax? Financial planning expert P V Subramanyam offers all the answers.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
Maintain a proper record of documents that can act as proof of the cost of acquisition of the property, cost of improvements made to the property, expenses related to transfer of the property (like brokerage and registration charges). These will come in handy in case of a dispute with the taxman.
Systematic Withdrawal Plan, or SWP, can help you achieve your financial goals. Ramalingam Kalirajan's step-by-step guide on how to effectively use an SWP.
'For me, if I want to buy a house to stay, I don't care about indexation because I don't want to sell that house.' 'The only thing that matters to me as a buyer is that the home price should be within my reach.' 'Any market, when speculators and investors go out, it will benefit the middle class.'
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Since MAAFs invest across multiple asset classes, they offer diversification.
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 bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
The government is open to 'some tinkering' in the varied rates and holding period for computation of capital gains tax on shares, debt and immovable property, in a bid to make it simple, revenue secretary Tarun Bajaj said on Wednesday. Under the Income Tax Act, gains from sale of capital assets, both movable and immovable, are subject to 'capital gains tax'. The Act, however, excludes movable personal assets such as cars, apparels, furniture from this tax.
rediffGURUS Hardik Parikh, Tejas Chokshi, Mihir Tanna and Sanjeev Govila answer your tax related queries.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) will answer your personal finance-related questions.
The finance ministry is looking at rationalising long-term capital gains tax structure by bringing parity between similar asset classes and revising the base year for computing indexation benefit to make it more relevant, an official said on Friday. Currently, shares held for more than one year attract a 10 per cent tax on long-term capital gains. Gains arising from sale of immovable property and unlisted shares held for more than 2 years and debt instruments and jewellery held for over 3 years attract 20 per cent long term capital gains tax.
Dwaipayan Bose examines the seven important factors that investors about exchange traded funds must know before they start investing/trading in them.
While equity savings funds could offer higher returns over three-five years, they would also be more volatile.
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
NRIs can repatriate the proceeds from the sale of a residential property in India, provided they meet a few conditions.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
Booking one's loss will help investors in these trying times, says Amar Pandit
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
'The pitch for India is flat, the ball for India is old, the sun for India is out, and the bowlers are not bowling too well.' 'I think only we can get ourselves out.'
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