Promoters likely to shy away from buyback offers, post Budget proposal
Earlier, under Section 115QA of the Income Tax Act, a company was liable to pay tax at a flat rate of 23.3 percent on distributed income.
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.
The budget is a boon for fintech lenders and MSMEs
With substantial investments earmarked for infrastructure development and the creation of industrial parks, the fintech sector is poised for growth.
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.
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.
Govt stays focused on Mission Viksit Bharat in Budget 2024
Union Budget focused on getting the right balance between fiscal prudence and growth.
Real estate investments with shorter duration, moderate price growth to be hurt the most with indexation benefit removal: CLSA
The removal of indexation benefits will not be applicable to old properties held before 2001, and they will continue to get indexation benefits.
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.
India Inc welcomes Budget focus on infra, consumption growth and employment
Even as the FM announced a slew of measures to boost the economy, she did not lose focus on fiscal prudence and targeted a fiscal deficit of 4.9 percent of the GDP for 2024-25, significantly lower than the target of 5.1 percent pegged in the interim Budget.
Implications of Budget 2024 announcements on indirect taxes
Budget 2024 has implemented the recommendations by the GST council by bringing in changes in the finance act. The measures will boost manufacturing sector in India and improve ease of doing business
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
Middle class homeowners to be hit hardest as FM revokes indexation benefits in property deals
New tax regime raises LTCG tax to 12.5 percent without indexation benefits, significantly impacting property sellers, particularly in non-metro areas, by increasing their tax burden and reducing real estate investment attractiveness
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.
What government earns and where does it spend?
The reliance on borrowings and other liabilities has also reduced in FY25
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
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
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
Fiscal prudence continues: Budget 2024 in 10 charts
Fiscal deficit target set at 4.9 percent for FY25, lower than 5.1 percent in the interim budget
New income tax regime gets sweeter; tax slabs softened, standard deduction hiked
Income-tax slabs slashed, standard deduction hiked for new income-tax regime. These are big bang personal finance Budget recommendations that will impact your money box.
