Revenue secretary rules out a rethink on LTCG as 'marginal' hike in levy is justified

A marginal increase in long-term capital gains (LTCG) tax on listed equity, which is a “passive income”, is justified in view of the salary, business and rental income being taxed at a much higher rate, Revenue Secretary Sanjay Malhotra said. Defending the removal of indexation benefits from LTCG on real estate, he said other asset classes, including incomes from shares, interest and fixed deposits do not enjoy the same benefit, and the move should be seen as a simplification measure. Read more here

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Q1 results: Bandhan bank, Indigo, Indus Ind Bank, Powerfrid, Equitas Bank, Cipla

Sanstar IPO: Stock likely to debut with 25-30% gains

Sanstar, which manufactures specialty plant-based products and ingredient solutions for food and pet food, is expected to make its market debut with around 25-30 percent premium over the issue price of Rs 95 per share on July 26, following robust IPO subscription numbers, according to experts. Read more here

Personal taxation and capital gains proposals decoded

Finance Minister Nirmala Sitharaman presenting the Union Budget 2024 on July 23 announced significant changes in personal taxation, including amendments to the rates for taxing long-term capital gains. Let's examine these key proposals.

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

Jewellery stores across India were promoting a 10 percent fall in gold prices this week due to global easing in the yellow metal rates when the Union Budget 2024 added to their sparkle. The Budget offered three relief measures to the gems and jewellery sector – a substantial reduction in customs duty to 6 percent from 15 percent earlier, a reduction in long-term capital gains tax to 12.5 percent from 20 percent and a decrease in the period of holding for gold to become long-term asset by a year to 24 months. Raw diamonds too received a minor benefit that would help jewellers but not the end-consumer directly. In a post-Budget discussion with Moneycontrol's Khyati Dharamsi, Rajiv Popley, Director Popley Group of Jewellers, explains why buying gold from Dubai is no longer as enticing as before and why Indian gold jewellery is now again competitive in the global market.

Why you must file Form 10-IA for claiming disability deductions

The Income-tax Act, 1961, provides a plethora of deductions to reduce the taxable element of an individual's income. Notably, sections 80DD and 80U provide significant deductions for medical expenses to those with disabilities and their dependents. These deductions alleviate their financial obligations effectively and provide peace of mind to a large extent. However, to avail these benefits, it is crucial to file Form 10-IA accurately. This article explores the importance of Form 10-IA and provides a detailed guide on its role in claiming these deductions.

Motorola teases ‘World’s Slimmest’ military grade smartphone in India

Motorola has been on a launching spree recently, and the brand has started teasing its next smartphone in India. Without naming the upcoming smartphone, Motorola has started teasing it with the tagline “World’s Slimmest Military Grade Phone”. After, the Motorola G85, Edge 50 Fusion, and Edge 50 Pro were launched on Flipkart, the upcoming smartphone is also confirmed to be available from the same shopping website. Know more here