CAPITAL GAINS
36 smallcaps shine with double-digit gains as fag-end rally help markets recoup weekly losses
Indian equity markets rebounded strongly this week, with the Sensex closing nearly 2% higher. Small-cap stocks led the rally, with Banco Products gaining nearly 35%. Analysts caution that more clarity is needed to confirm a trend reversal, with upcoming election results and economic data being key factors to watch.
Indian REITs distribute Rs 2,754 crore in H1 FY24, up 14% YoY
Indian REITs have disbursed Rs 2,754 crore to unitholders in H1 FY24, a 14% increase from the previous year. The four major listed REITs¡ªBrookfield India, Embassy Office Parks, Mindspace Business Parks, and Nexus Select Trust¡ªcontributed to this distribution. This reflects the growing maturity of India's REIT market, which now manages assets worth over Rs 1.52 lakh crore.
Dollar eyes weekly gain on slower Fed easing, inflation outlook
The euro was in turn on track for its worst weekly performance in seven months with a fall of 1.75%. The common currency last bought $1.0530, languishing near a one-year low hit in the previous session.
Tax tracker on property owners with builder deals; I-T dept told to identify capital gains evaders
The Income Tax Department is investigating landowners in India who may have avoided paying capital gains tax. These landowners had partnered with builders under joint development agreements. The investigation focuses on agreements where landowners received apartments or commercial space in newly constructed buildings but did not pay taxes after receiving completion certificates.
Tax reforms, simpler customs procedure top Budget wishlist
Indian industry bodies met with revenue secretary Sanjay Malhotra. They presented their tax proposals for the upcoming budget. The Federation of Indian Chambers of Commerce and Industry (FICCI) proposed comprehensive tax reforms. The Confederation of Indian Industries (CII) suggested simplifying the goods and services tax (GST) regime.
SWP vs IDCW Payout ¨C Which option is more tax-efficient?
A Systematic Withdrawal Plan (SWP) provides a steady income stream, especially for retirees. It allows investors to redeem investments gradually, minimizing tax implications and enabling simultaneous compounding. However, careful planning and monitoring of NAV are crucial for optimizing returns and ensuring corpus longevity.
Buying house by selling equity shares? Here¡¯s how you can claim tax exemption for LTCG on stocks sold
Save LTCG tax on equity: To finance the down payment for buying a house, many people sell their assets such as equity shares, equity mutual funds, gold, etc. The income tax laws allow taxpayers to claim tax exemption on the long-term capital gains arising from the sale of equity shares and other capital assets.
Gold taxation: Income tax laws for capital gains on gold have changed, know the new rules
New gold taxation rules: Capital gains tax rules on gold have changed from July 23, 2024. However, the new rules are applicable to physical gold and gold jewellery and not to gold mutual funds and gold ETFs. Know the new income tax rules for taxation of gold before buying or investing this Diwali.
Budget tax raid, increase in capital gain tax by the new British government? Hundreds of entrepreneurs prepare to quit the UK
Entrepreneurs are planning on quitting the United Kingdom in order to escape the ruthless capital gains tax imposed by the new British Government, suggest reports. Could this latest budget tax raid affect the British economy drastically? Here's what we know.
Claimed 87A tax rebate for STCG in your ITR? You may get tax demand notice
Income tax rebate: Income tax rebate under section 87A is not available for Long Term Capital Gains (LTCG). "Earlier the Income Tax Utility Software allowed filing of returns with rebate, but after July 5, 2024 this rebate is no longer given for STCG. Pursuant to those returns which were filed with rebate are now getting intimations for tax demand equivalent to amount to rebate availed," says CA Hardik Kakadiya, President, Chartered Accountants Association Surat (CAAS).
Taxation for listed equity shares: 5 things to know
A securities transaction tax of 0.025% is levied on the sell side for equity intraday transactions.
Retail investors to be hit harder by new share buy-back rule from Oct 1: Here's the maths
Share buy-back tax rules from October 1, 2024: The new share buy-back tax rules will come into effect from October 1, 2024. Many companies are flurrying the market with buy-back before the new rules become effective. The small and retail investors will lose much more due to new share buy-back tax rules.
How to make gold investments tax efficient after Budget 2024 changed capital gain rules: New STCG, LTCG rates on gold, gold MF, gold ETF, SGB
Gold, a traditional symbol of wealth and prosperity in India, has long been a popular investment choice. The recent changes in capital gains tax rules introduced in Budget 2024 have significant implications for those who invest in gold. We delve into the new short-term and long-term capital gains tax rules and their impact on various gold investment avenues, including physical gold, gold bonds, gold mutual funds and gold ETFs.
Trying to use Capital Gains Scheme Account to cut LTCG tax on indexed gains from 20% to 12.5%? It won't work
LTCG tax on the sale of the house at 12.5%: If a taxpayer has sold the home on or before July 22, 2024, and put the money in a Capital Gains Scheme Account (CAGS), then they need to invest the money in a new residential house before the expiry of the deadline. Otherwise, the indexed long-term capital gains will be taxed at 20% instead of 12.5%.
LTCG tax on sale of house: Can you add home loan interest to property purchase price to cut capital gains tax?
LTCG tax rate on property sale with no indexation: If a taxpayer does not avail of the Section 24 deduction of Rs 2 lakh on interest paid on a housing loan, then the interest cost can be added to the property price to inflate the purchase price. However, what if you opt for a new tax regime and claim no deduction of Rs 2 lakh? Can you still add interest cost to the purchase price to lower the LTCG and tax on it?
No indexation benefit even for LTCG on debt mutual fund investments made before April 1, 2023
These debt mutual funds taxation rules changed: The government has rationalised the capital gains taxation rules. The new tax rules will impact debt mutual fund investments made on or before March 31, 2024, to avail of the indexation benefit. Redemptions and transfers made on or after July 23, 2024, will be taxed at the new LTCG tax rate of 12.5% without indexation benefit, provided debt mutual funds were held for more than 24 months.
No indexation for LTCG tax on property bought after July 23, 2024, is unfair; Will deter long term investment: View
The amendment tabled in the finance bill is a welcome move as it will provide an option to choose between LTCG tax of 20% with indexation or 12.5% without indexation for property. It would encourage honest tax payment, long-term investment and fair play. However, removal of indexation benefit for properties bought after July 23, 2024 and other Long Term Assets classes must be revisited. Here's why.
Selling a house and worried about LTCG tax? You can still pay zero tax u/s 54 despite the budget 2024 shock
LTCG on property: You can still save income tax on selling a house despite Budget 2024 announcement. Revenue Secretary Sanjay Malhotra said "Tax kicks in only if the gains are not reinvested in a house. If you sell a house and you buy a house using only the gains, there is no taxation." Know how it works and what are the conditions.
New capital gains tax rules on property: Can you add stamp duty, home loan interest amount to property cost to lower LTCG tax?
Budget 2024 has reduced the tax on long-term capital gains arising on the sale of immovable property from 20% to 12.5%, without indexation. Taxpayers took to social media platforms to voice their concerns on how property prices will be calculated to determine long-term capital gains following Budget 2024. Does the Finance Act, 2024, amend the rule to calculate the property's base price? Can you add stamp duty, home loan interest amount to your property's cost while calculating capital gains during sale now? All your queries on new capital gains rules on property answered.
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