Budget for TAX Sector: Budget Impact on Tax Sector, Budget Sectoral Impact on Tax Sector

What does keeping debt funds out of indexation benefit reversal mean for investors?

Indexation benefit withdrawal on grandfathered debt mutual fund units purchased before April 1, 2023 may have caused heartburn, but still all is not lost, experts say.

Budget 2024 proposals will give a boost to the pace of corporate NPS adoption, says HDFC Pension CEO

Announcement of a hike in corporate NPS deduction limit from 10 percent to 14 percent in the new tax regime has led to an increase in awareness about this scheme. The pace of adoption, though slower than expected, is picking up. Even amongst government employees, four lakh individuals have moved out of the conservative default investment mix to avail of higher equity exposure and, thus, more lucrative returns.

Indexation in real estate: Govt looking at options, may prefer exemption for transactions till July 2024

There is another option on the table to let people choose between old and new LTCG regimes, but no final decision has been made yet.

Cutting through tax complexity in Budget 2024

The budget announcements should give a positive signal to foreign investors about India’s intent to provide a benign tax regime

India Inc’s effective tax rate rises on the back of large companies, services sector

After two successive years of reduction in the effective tax rate, Indian companies faced an increase in FY22 with the ETR rising to 23.3 percent from 22.2 percent a year ago

No benefit in buying gold from Dubai after customs duty cut, says Popley Jewellers' Rajiv Popley

Customs duty reduction, long-term capital gains tax at 12.5 percent and window shrinking to 24 months means the parallel trade or recycling of gold from abroad that was happening, but not recorded, will end. Popley says he foresees the rollout of a new government scheme for people to declare gold.

CBDT issues FAQs on capital gains tax provisions announced in Budget 2024

Earlier, there were three holding period for considering an asset to be a long-term capital asset. Now the holding period has been simplified. There are only two holding periods, for listed securities, it is one year, for all other assets, it is two years.

Budget 2024 personal taxation and capital gains proposals decoded

Overall, the Budget has aimed to simplify the taxation structure for individuals and has also proposed further tax measures for adoption of the new tax regime.

Regulatory shift from energy efficiency to emission targets may drive innovation in oil and gas sector: Essar Oil & Gas CEO

As economic activities ramp up and geopolitical dynamics shift, the demand for energy remains robust. In this evolving scenario, increase in natural gas in India’s energy mix to 15 percent is inevitable in achieving a greener future.

Do bond fund investors need to change their strategy after Budget?

According to experts, the government's fiscal consolidation path will provide room for the Reserve Bank of India to cut rates, easing bond yields over a period of time.

Startup employees may face higher tax burden on ESOP buybacks due to Budget proposal

ESOP buybacks will be taxed in the hands of the employee as ordinary income from October 1, whereas they are currently taxed in the hands of the company

India snips aid to Maldives; see top 10 recipients of government grant in Budget 2024

In Budget 2024, presented by FM Nirmala Sitharaman on Tuesday, the government has allocated the largest sum for Bhutan, which is followed by neighbours like Nepal, Maldives, Myanmar and Sri Lanka.

Now report rental income as 'Income from house property,' not ‘Business income’: Budget 2024-25

Income from letting out house property shall not be charged under ‘profits and gains of business or profession’ but will be taxed under ‘income from house property’ only. However, this could hit those operating genuine renting businesses hard.

How your SIPs would be taxed after Budget 2024's capital gains tax rate changes

While capital gains tax on equity shares and equity mutual funds has increased, investors will find relief in the reduced tax rates on fund of funds, gold ETFs and international funds.

NPS Vatsalya: A new savings scheme for minors with major shortcomings

NPS Vatsalya seems to be a non-starter in the present model and citizens have better avenues with accessibility and tax efficiency, like equity mutual funds available to save for their needs.

Budget 2024 unveils progressive blueprint for India's development

Monetary support of up to Rs 10 lakh for higher education for credit-deficient students can absolutely widen the talent base in years to come.

Budget adopts an ‘optimal approach’ in tax slab rejig, says CBDT chairman

While the tax slabs were rejigged for the new tax regime, the old tax regime rates were left untouched in the Budget

Fiscal discipline, tax rationalisation in budget '24 indicate glide path towards a new India

The combination of controlled inflation and a well-managed government borrowing programme is good news for debt investors, as interest rates could trend downwards over a period, leading to capital gains for them.

Cannot become Viksit Bharat without taxing capital gains appropriately: Fin Secy Somanathan

In what may be indicative of the government's stance on the capital gains tax regime going ahead, Somanathan said, "earners of capital gains are not poor and we will keep taxing them at a decent rate."

Can the Budget significantly boost rural consumption?

The Union Budget is a reflection of a quiet confidence that the government is demonstrating regarding achievement of such robust growth.

TDS on life insurance payouts reduced from 5% to 2% from October 1

Life insurance companies have welcomed the reduction in TDS levy

Old vs new (simplified): Which income tax regime will help you save more on tax outgo?

Tax outgo will be lower in the old, with-exemption regime if you claim multiple, higher deductions; primarily, home loan interest or house rent allowance (HRA). For low-income earners and others with fewer deductions, the new, simplified regime will score.

Manufacturing was a key theme in the budget

With 1.4 billion population, India needs to be self-sufficient in agriculture.

Expansion of Kisan Credit Card issuance would boost tech usage in agriculture, say experts

Though the initiative for issuance of kisan credit card (KCC) has brought in some cheer among industry players, the segment under agri-credit has been under some stress lately.

Holding Period for REITs Reduced to 12 Months from 36 Months to Qualify as Long-Term Assets: Budget 2024

Finance Minister proposed that listed financial assets held for more than a year will be classified as long term

Simpler and sweeter? How Budget 2024 will reduce taxes under the new, minimal exemptions tax regime

For individuals who had picked the new, simplified regime, income tax slab rejig will mean tax savings of Rs 13,000 for a salaried individual earning Rs 10 lakh, while those earning Rs 5 crore will stand to net savings of Rs 22,750, as per Deloitte India's calculations.

On the way to fiscal consolidation. Will rating upgrade follow?

Budget 2024: The Finance Minister's approach is like an all-rounder in cricket. It steers the economy towards a possible sovereign rating upgrade, much like winning a championship.

Govt removes 20% TDS on repurchase of units by mutual funds, UTI

The Finance Bill 2024 seeks to omit Section 194F of the Income-tax Act relating to payments on account of repurchase of units by Mutual Fund or Unit Trust of India.

MC Interview: Divam Sharma of Green Portfolio rates Union Budget 4/5, says LTCG and STCG tax increases in line with expectations

Sharma sees the continuation of the Buy the Dip strategy and bets on agriculture and renewable energy post Budget.

Market will absorb tax hikes, key is if Budget can stimulate growth, says Edelweiss's Rashesh Shah

Shah flagged private capex as an area of concern. He pointed out that despite an increase in government-driven capital expenditure, private sector investment remains sluggish.

Property values indexed up to 2001 are grandfathered for capital gains: FM clarifies

The abolition of indexation benefits in calculating capital gains tax on real estate and property will not affect everyone. Old properties held before 2001 would continue to get indexation benefits. Legacy assets and old properties will benefit.

Technical View: Sharp recovery raises hope for Nifty's upward move towards 24,700, bulls gain comfort as VIX eases 17% post budget

The index smartly defended the 10 and 20-day EMAs (Exponential Moving Averages) on a closing basis, with 24,000 acting as a sturdy support.

Lower LTCG Rate and Abolition of Indexation: A Benefit or a Disadvantage?

The finance minister has proposed changes in LTCG taxation rates and rules for assets such as real estate and gold. LTCG from these assets will now be taxed at a lower rate of 12.5% instead of 20%, but there will be no indexation of the acquisition value allowed while calculating LTCGs.

Gold funds, overseas funds, FoFs big beneficiaries of capital gains tax changes

The Union Budget for 2024-25 has hiked the long-term capital gains tax (LTCG) on all financial and non-financial to 12.5 percent from 10 percent, while short-term capital gains tax (STCG) on some assets would be 20 percent.

Budget 2024 changes will boost GIFT City IFSC’s growth trajectory

This year's budget has put retail Schemes and ETFs in IFSC under the same tax regime as Category IIII IFSC AIFs which spells good news for the fund management ecosystem as it will attract more global fund managers

Indian bond yields may soften post marginal cut in gross govt borrowing, fiscal deficit

Finance Minister Nirmala Sitharaman in a speech presenting the full Budget for 2024-25, said the Centre marginally cut the gross borrowing target from the markets in 2024-25 to Rs 14.01 lakh crore to finance its fiscal deficit of 4.9 percent of the GDP.

FM declines additional tax deduction for NPS Vatsalya for children: Budget 2024

No likelihood of offering more deductions in the future as we are moving to simplified tax regime

Can the vision and strategy document make financial sector future-ready?

Experts say this was in the making for many years and with the interconnect in the financial services sector increasing, having a unified strategy would help

Finance Minister declines clarity on future of old tax regime

About 70% of tax filers have opted for new tax regime for the last fiscal

No respite for startups with pending angel tax notices; companies may still face fresh demands

In the Union Budget 2024, the government proposed to abolish angel tax with effect from FY24-25

Duty cut in Union Budget 2024 to add glitter to demand for gold, silver

The benefit to jewellery buyers should be to the tune of 6 percent

Near-term consumption kicker in Budget 2024

Budget 2024-25: Fiscal benefits for creating new jobs and changes in the new income tax regime will put more money in the hands of a demographic with high propensity to consume

Budget 2024 Trading Strategy: Trade Set Up for Budget-sensitive stocks. What to watch, key levels

Experts advised focusing on the 24,200-24,000 levels on the downside for the Nifty 50, and 24,850-25,000 on the higher side, while continuing with a buy on dips strategy on Budget day. Here are the top Budget-sensitive stocks to bet on and their levels to watch.

Amit Shah:Budget will usher in new era of employment, opportunities

Budget for Taxation