[ad_1] ITR 1 (Sahaj) is meant for resident individuals and Hindu Undivided Families (HUFs) with total annual income up to ₹50 lakh from sources like salary, pension, interest, dividends, and rent from one house. LTCG relief This year’s Budget raised the tax-exempt limit for long-term capital gains (LTCG) on securities from ₹1 lakh to ₹1.25…
[ad_1] Budget Session: President Droupadi Murmu addressed a joint sitting of Parliament ahead of the Budget Session on Friday. In her speech, the president listed the achievements of the Prime Minister Narendra Modi-led Union government. The President paid tribute to all those who lost their lives during the stampede in the Mahakumbh 2025. She also…
[ad_1] Starting October 1, 2024, significant changes will be implemented in the taxation of share buybacks, shifting the tax burden from companies to shareholders. Companies are taxed at 23.296 per cent on buyback transactions, covering surcharges and cess, while shareholders face no tax on the buyback proceeds. Under the new rules, buyback proceeds will be…
[ad_1] The government has cut the gold duty drawback rate on August 23, almost a month after revising import duty. According to the new notification, for gold jewellery, the duty drawback rate has been reduced from ₹704.1 per gram of net gold content (with a purity of .995 or more) to ₹335.50 per gram, a…
[ad_1] I am 78. I sold a shop I purchased in 1999 for ₹2.40 Lakh and spent ₹1 lakh on better looks and convenience in 1998. I am planning to sell it for ₹18 lakh in August 2024. Can you advise me how much the capital gain will be?How can I save the tax? As…
[ad_1] My father-in-law had a residential house in Jodhpur. He had eight children. After his death, my wife got 1/8th share in 2010. She passed away in 2017, and after her death, ownership rights of her share were transferred to me and my two sons. We have sold our shares for ₹1.02 crore and have…
[ad_1] Congress leader Rahul Gandhi claimed on August 2 that the Enforcement Directorate is planning to raid him following his ‘Chakravyuh’ speech during the discussion on the Budget 2024. Gandhi, the Leader of Opposition (LoP) in Lok Sabha, said he would, however, wait for the central probe agency with ‘chai and biscuits.’ ‘Apparently, 2 in…
[ad_1] Previously, investments in ETFs and FoFs faced distinct tax rules, but the new regulations have streamlined these, creating a more favourable environment for ETFs. This shift not only reduces the time needed to benefit from long-term capital gains (LTCG), but also enhances trading convenience, positioning ETFs as the preferred choice for savvy investors looking…
[ad_1] The Indian market concluded July on a robust note, extending their winning streak to a second consecutive month. This positive momentum has been driven by significant sector rotation, which has played a pivotal role in sustaining the indices at elevated levels. Despite some volatility experienced after the budget—prompted by the government’s increase in capital…
[ad_1] NEW DELHI : Ahead of the Union Budget 2024-25, rumours were rife that tax on futures and options (F&O) would be increased to curb the increasing retail participation in the derivatives market. But while the Centre didn’t touch F&O, barring a nominal increase in securities transaction tax (STT), it increased tax on short- and…
