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Investments made in the US market, like other investments, are treated as capital assets for taxation in India.
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Understanding when NRIs have to file a return prevents surprises and simplifies compliance.
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Finance Minister Nirmala Sitharaman on February 13 tabled the new Income Tax Bill in the Lok Sabha. The bill, which is headed for a select committee is expected to come into force from April 1, 2026.
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The author recommends Finance Minister to consider adding a clarification to treat the date of possession as the date of acquisition for under-construction properties under Sections 54 and 54F.
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Jefferies' Chris Woods is astonished that the recent rise in both short- and long-term capital gains tax in India did not have more of a negative impact on the stock market.
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The 2024 Budget raised STCG tax on specific financial assets to 20 percent from 15 percent.
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Finance minister Nirmala Sitharaman raised long-term capital gains tax to 12.5 percent and short-term capital gains tax to 20 percent in Budget 2024-25.
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Formalisation would lead to increase in tax base and tax net, the revenue secretary said
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Budget’s changes will help outbound funds set up in IFSC raising money from resident investors. But the changes could have a negative effect on NAVs of offshore FPIs
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Regulatory data on proliferation of financial instruments to different income segments counters the claim that capital gains affects only the wealthy. Indexation benefits are determined by geography which makes a cookie cutter approach irrelevant. Tax payers need to be given a choice of method
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New real estate tax rules: Of the 20 scenarios analysed by Moneycontrol, taxpayers will face an additional tax burden under the new regime in 14 scenarios, while in 6, homeowners will benefit under the new rules
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Many promoters and PEs took a view that the OFS is not subject to capital gains tax. The Government has now issued a clarification with retrospective effect.
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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."
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The budget's long term capital gains provisions will reduce excess allocation of capital to one particular asset class. Another important long term benefit would be rapid formalisation of real estate investment and better capital flows from real estate into financial assets
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Finance Minister Nirmala Sitharaman announced the removal of the indexation benefits for the sale of property in the Union Budget,Owing to the removal of indexation, property sellers will not be able to inflate the sale price of the property
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Radhika Gupta stressed the need for consistency in tax policy. "This constant flip-flop in tax policy, I don't think helps anyone," she said.
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In tax harvesting, long-term capital losses can only be set-off against long-term capital gains, while short-term capital losses can be set-off against either short-term or long-term capital gains.
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As the Indian economy grows globally, it has added to the complexity of computing capital gains. It has in turn led to disparity on account of rate of tax, benefits of indexation or foreign currency fluctuation among other issues. Hoping Budget 2024 provides solutions to this
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The proposal also includes potential concessions for senior citizens, increased thresholds for ancestral property gains or exemptions for proceeds used in medical expenses and geriatric care
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A comparison with capital gains rates worldwide shows that headline Indian capital gains tax rates are invariably lower or comparable to other economies
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In the 14-point CII policy agenda for the new government, Puri suggested the rationalisation of capital gains by bringing consistency in tax rates. On the indirect tax front, Puri suggested reforms to simplify GST and including petroleum products, electricity and real estate under GST.
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Terming existing tax rules as “not progressive” the said report had quoted sources as saying that a panel may be appointed to build on proposals submitted to the Finance Ministry in 2019 with an eye to implementing it in 2024
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The government’s premise that debt funds are similar to fixed deposits in terms of returns is misplaced since bonds carry credit and interest rate risks
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The six properties are located in Lodha Malabar, Mumbai, and come with 20 car parking slots . Brokers said the value of the triplex makes the per sq ft cost at almost Rs 1.36 lakh per sq ft.
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The response in Delhi and Bengaluru has, so far, been tepid as there is limited new supply in the above Rs 10-crore range. Mumbai doesn't have such a problem
