LTCG Tax is applicable only on equity-oriented mutual funds which hold more than 65% of assets in equities. There is no change in debt fund taxability.
In an interview to CNBC-TV18, Alok Agarwal, Head of Research at Bajaj Capital and Amit Maheshwari, Partner at Ashok Maheshwary & Associates address issues such as does one need to rethink their asset allocation mix, do fixed income investment suddenly look more attractive given the market volatility, what is the best way to invest in equity considering the new tax regime, and are ULIPS actually worth taking a look at once again given all the big changes.
India had cut factory gate tax on the two fuels by 2 rupees ($0.0311) a litre each last week while presenting the federal budget, but it did not result in lower retail prices as new taxes were added.
Chandra also said that no I-T official can pick up a case on his discretion and only 0.5 per cent of all cases are picked up for scrutiny by the Income Tax Department.
Not reducing corporate tax rate has been termed as a big miss by the finance minister. But data shows not many companies would have benefited from the cut
The government has revised its 2018-19 fiscal deficit projections to 3.3 per cent of GDP and for current fiscal to 3.5 per cent of GDP, compared with original targets of 3 per cent and 3.2 per cent, respectively.
In 2018-19 Budget, Finance Minister Arun Jaitley proposed to lower corporate tax rate to 25 per cent for businesses with turnover of up to Rs 250 crore.
According to the global financial services major, while the budgeted deficit is in line with expectations, the revenue targets are on the optimistic side, particularly on recently- introduced GST tax revenue growth.
While the tax will kick in on shares sold on or after April 1, the acquisition cost for the purpose of computing the capital gains will be the higher of the actual purchase price or the maximum traded price on January 31, it said.
The Export Promotion Council for EOUs & SEZs (EPCES) said the budget has "absolutely nothing" important for the SEZs despite flagging the key issues affecting the sector.
The government had to introduce anti-abuse laws in a bid to stop industries from misusing direct tax provisions, Sushil Chandra, Chairman of Central Board of Direct Taxes said today.
With the cost of medical treatments going up more than the general inflation levels and senior citizen having to spend relatively more money on their health.
In Frequently Asked Questions (FAQs), it said the Budget for 2018-19 provides for taxing Rs 1 lakh and above of Long- Term Capital Gains arising from sale of shares held for over one year at a concessional rate of 10 per cent.
While this Budget has hit the right chords for reducing rural distress and increasing government expenditure in infrastructure, healthcare and education, it has been disappointing on other fronts.
As long as the total gain realised in the year of sale is more than Rs.1 lakh there would be LTCG implication even though the appreciation in each year is less than Rs 1 lakh
In CNBC-TV18 special episode of Money Money Money Aashish Somaiyaa, MD & CEO of Motilal Oswal AMC, Laxmi Iyer of Kotak Mahindra AMC and Sailesh Raj Bhan, Dy CIO-Equity Investment at Reliance Nippon Life Asset Mgmt gave their take on Arun Jaitley's Union Budget and their outlook on the road ahead.
The California tech giant said revenues in the last three months of 2017 rose 24 per cent from a year ago to USD 32.3 billion and cited "great growth" for the company.
Seattle-based Amazon is using fast shipping, television shows exclusive to its website and forays into new technology, such as its voice-controlled Alexa devices, to attract high-spending Prime members. Amazon said price cuts at Whole Foods Market, which it acquired for $13.7 billion last year, are helping it win grocery sales, too.
While this year Union Budget was a mix bag of both expectations and a few surprises, we list out a few broad points which will have an impact on how you save, invest, borrow, and insure.
An allocation of INR 10,000 crores has been announced on expansion of telecom infrastructure under various government projects in the country, however, the Union Budget does not bring any cheer to the telecom sector.
With several changes carried out in personal tax rates in last three years, the finance budget 2018 have kept the tax rates unaltered
The lower import tax could boost India's gold demand and support global prices that are currently trading near their highest in 17 months.
Introducing a few tax saving measures could boost demand in the real estate sector.
The proposal was to allow the country to retrospectively tax cross-border transactions in which the underlying assets are located in India.