Business news – Page 43

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Latest NPS rules 2024: How much tax will you save with new NPS contribution benefit under new regime after Budget 2024? – Times of India

adminJuly 24, 202406 mins

Budget 2024 new NPS benefits: Finance Minister Nirmala Sitharaman has announced additional tax benefits for salaried taxpayers investing in the National Pension Scheme. The Union Budget has taken steps to promote retirement planning by enhancing the tax advantage on NPS contributions and introducing a new option for minor children in the pension system. The deduction…

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Union Budget 2024: Cigarette prices remain unchanged after no increase in Tobacco tax – Times of India

adminJuly 24, 202402 mins

NEW DELHI: Cigarette prices will not be changed after the Centre announced no tax hike on Tobacco products in the Union Budget 2024 presented on Tuesday. While the Goods and Services Tax (GST) Council holds primary authority over the taxation of tobacco products, the central government also levies a National Calamity Contingent Duty (NCCD) on…

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Budget 2024: Seventh speech, 71 rounds of applause – Times of India

adminJuly 24, 202403 mins

Dressed in an off-white Mangalagiri sari with a purple-golden border, finance minister Nirmala Sitharaman on Tuesday presented her seventh consecutive Union Budget, reading from a tablet PC that was wrapped in the red-coloured ‘bahi-khata’ style pouch she has used for all her Budget speeches in place of the leather briefcase — called ‘budget’ from the…

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Budget 2024: Due since 2020, Census and NPR unlikely this year too – Times of India

adminJuly 24, 202403 mins

The modest Rs 1,309 crore outlay in the 2024-25 Budget for Census and National Population Register (NPR) preparation, as against the Rs 12,700 crore expenditure sanctioned by the cabinet in 2019, leaves a slim chance for resumption of the exercise that has been stalled since the pandemic in 2020.The dip in outlay for Census and…

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Budget’s big job: Get back BJP’s lost votes – Times of India

adminJuly 24, 202407 mins

The best clue to the politics of this Budget? The acronym emblazoned on the backdrop of Nirmala Sitharaman‘s post-Budget presser. First letters of ten different ‘priorities’ made up that acronym – EMPLOYMENT.Fresh from an where BJP lost its single party majority in part because many voters were unhappy with the lack of decent paying jobs,…

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Long & Short: Finance minister’s capital gain is bullish street’s loss – Times of India

adminJuly 23, 202406 mins

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…

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Indexation gone. How about selling old house and buying a new one? – Times of India

adminJuly 23, 202404 mins

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…

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Capital pain: Tax hike to eat into your profit – Times of India

adminJuly 23, 202403 mins

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%…

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Budget 2024: Roof over head for 1 crore urban poor in next 5 years – Times of India

adminJuly 23, 202403 mins

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…

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Budget 2024: How TCS is set to become less TDS for salaried class – Times of India

adminJuly 23, 202403 mins

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…