Budget2023withmc

Maturity proceeds of endowment plans with aggregate annual premiums of less than Rs 5 lakh are tax-free, but returns of 4-6 percent per annum, a long lock-in period and recurring premium commitments blunt the tax edge over debt mutual funds

GST return filings up from 60 percent two years ago to 85 percent  

Reduced compliances, decriminalization of laws, easier compounding are steps taken by the government to improve ease of doing business in Budget 2023 

The ultimate guide that helps you choose between new and old income-tax regime

The all-new and improved new income-tax regime has got more attractive, post Budget 2023. Salaried individuals can switch between the two tax regimes every year after estimating their tax liability. But businesspersons and professionals can switch to the old regime and back once.

Budget 2023: Is the Rs 7-lakh tax-free income limit only for the new tax regime?

Finance Minister Nirmala Sitharaman also lowered tax rates and allowed more exemptions to make the new regime more appealing to taxpayers

Budget 2023 | Buybacks should be taxable in the hands of existing shareholders

Although a lower number of shareholders tender their shares and take exit (partially or fully) from the company, it adversely impacts the interest of other shareholders.

Budget 2023: What February 1 may have in store for an ESOP holder

Since global mobility has become a common trend in recent times, a clear provision in the tax laws is required to eliminate the ambiguity regarding taxation of ESOPs for employees

Budget 2023: Insurers seek separate tax deduction basket for life policies, higher limit for health premium

Ahead of the budget, insurance companies also want finance minister Nirmala Sitharaman to accept their demand to exempt the principal component of annuities, or pension income from tax

Budget 2023: Will there be a rise in exemption limit for long-term capital gains tax?

The exemption allowed for long-term capital gains on equity investments need to be further enhanced to account for inflation, rising income levels and to encourage more investors into equity markets, say analysts

Budget 2023 | Why there is a need for rationalisation of certain personal tax exemption and deduction limits

The monetary caps on certain exemptions and deductions were fixed many years ago and are long overdue for rationalisation. This will help bring them in line with the high inflationary trends witnessed in the last few years.

Budget 2023 | On taxpayers’ wishlist: Higher basic tax exemption limit, higher exemption from long-term gains tax on equity

Strap: Individual taxpayers also expect finance minister Nirmala Sitharaman to raise section 80C limits

Budget 2023: Power sector proposes push for clean energy storage, transmission

Not only has the power ministry been pushing for the proposed green corridor between Ladakh and Haryana to be included in the upcoming Budget, it has also proposed a provision for viability gap funding (VGF) for battery energy storage systems (BESS).

Budget 2023: How exemption-less taxation will benefit India | Bibek Debroy Exclusive Interview

Dr Bibek Debroy, Chairman of the Economic Advisory Council to the Prime Minister in an exclusive interview with N. Mahalakshmi of Moneycontrol tells that the challenge before the finance minister in Budget 2023 is to ensure that capital expenditure continues in order to have the multiplier effect. He also weighs in on the global uncertainties that threaten to drag growth down as well as on the tax reforms he advocates, including the removal of exemptions on personal income and corporate tax. Watch for more details.

Budget 2023: Mutual funds ask for tax parity with insurance and listed bonds

AMFI, the Association of Mutual Funds of India, has asked for uniform capital gains taxation and better tax treatment for ETFs, from Budget 2023

Budget 2023: Senior citizens want more medical insurance deductions, tax-free pension

Increased cost of healthcare for senior citizens, particularly post COVID-19, warrants a higher deduction limit for premiums as well as routine medical expenses, say financial planners. A higher deduction for interest earned on fixed deposits would also bode well for senior citizens, in Budget 2023.

Budget 2023: What could the FM do to make the new regime attractive to taxpayers?

The new regime has failed to attract taxpayers. Allowing some deductions as part of Budget 2023 announcements may help, but will also mean diluting the USP of the new system – simplicity and lesser paperwork.

What do senior citizens want from Budget 2023? Higher basic exemption and health insurance deduction limits

Increased cost of healthcare for senior citizens, particularly post COVID-19, warrants a higher deduction limit for premiums as well as routine medical expenses, say financial planners.

Here's why buying term insurance from India is more beneficial for NRIs

NRIs must compare various available term insurance policies, their features, available riders, and claim settlement ratios online before buying a comprehensive insurance plan.