Dalal Street investors, who were caught unawares by the proposal to hike capital gains tax for all stock investments and securities transaction tax (STT) on derivatives trades, sent indices tumbling in early afternoon trade before recovering to end almost flat.This increase was contrary to expectations in the days leading up to the Budget that time…
Inflation is no longer your best friend if you plan to sell a property. For years, Indians had the option of reducing tax on profit made from selling a house by making use of what is called ‘indexation benefit‘. It allowed the difference between purchase and sale price of a house (profit) to be reduced…
Investors have largely been left disappointed by the multitude of amendments proposed in the Budget relating to capital gain provisions. To begin with, the tax rate itself for short-term capital gains for listed equity shares and equity oriented mutual funds (scrips held for less than 12 months are short-term assets) has been increased to 20%…
BENGALURU: The Karnataka high court has stayed an investigation against two senior Enforcement Directorate officers probing the multi-crore fund diversion case pertaining to Maharshi Valmiki Scheduled Tribes Development Corporation. Justice M Nagaprasanna passed this order after hearing a petition filed by ED deputy director (Bengaluru) Manoj Mittal and ED assistant director (Bengaluru) Murali Kannan.The petitioners…
BENGALURU: The Karnataka high court has stayed an investigation against two senior Enforcement Directorate officers probing the multi-crore fund diversion case pertaining to Maharshi Valmiki Scheduled Tribes Development Corporation. Justice M Nagaprasanna passed this order after hearing a petition filed by ED deputy director (Bengaluru) Manoj Mittal and ED assistant director (Bengaluru) Murali Kannan.The petitioners…
NEW DELHI: Dubbing the budget as “discriminatory and dangerous“, Congress announced that its chief ministers would not participate in the meeting of the NITI Aayog on July 27.Congress general secretary KC Venugopal said, “The budget was extremely discriminatory and dangerous, which completely goes against the principles of federalism and fairness that the Union govt must…
A central assistance of Rs 2.2 lakh crore over the next five years is aimed at meeting the housing requirement of 1 crore urban poor and middle-class families under Pradhan Mantri Awas Yojana-Urban. Govt has also proposed an interest subsidy to provide loans at affordable rates.FM Nirmala Sitharaman said 3 crore additional houses under Pradhan…
Individuals miffed at tax collection at source (TCS) proposals have now been offered a small relief – provided they have salary income.At present, a salaried employee may declare income, such as bank interest and rent, to their employer, who factors this and, accordingly, deducts a higher tax against the monthly salary. The employee then does…
In another indication that the old tax regime will be eased out, finance minister Nirmala Sitharaman has tried to make the new tax regime more attractive for taxpayers.She has increased the standard deduction for salaried class by Rs 25,000 from Rs 50,000 to Rs 75,000 while keeping it at the same level of Rs 50,000…
PRAYAGRAJ: Kaushambi Police have invoked Gangsters Act against Rajiv Nayan Mishra alias Rahul Kumar Mishra, mastermind of paper leaks in various competitive exams in Uttar Pradesh, and 22 of his accomplices.Mishra, a resident of Amaura village, had been operating an inter-state racket that leaked question papers of several competitive exams, Kaushambi superintendent of police (SP)…
