NEW DELHI: Union finance minister Nirmala Sitharaman on Wednesday announced amendments regarding the Long-Term Capital Gains (LTCG) tax proposal on real estate during a debate on the Finance Bill in Lok Sabha.Taxpayers will now have the choice to calculate their tax liability using either the old system or the reduced rates without indexation, and pay…
Union finance minister Nirmala Sitharaman criticised the opposition for saying that the budget didn’t help the salaried and middle classes but only benefited the wealthy. She pointed out that the government has worked to make taxes simpler and lighter, especially during the Covid pandemic when no new taxes were added.She also criticised the opposition’s demand…
Indian markets began Wednesday’s trading session with notable gains, buoyed by a global rally. The Nifty 50 index opened with a gain of 296.85 points, or 1.24%, reaching 24,289.40 points. Simultaneously, the BSE Sensex opened at 79,565.40 points, up by 972.33 points, or 1.24%.Among the Nifty 50 companies, 48 saw advances, while only 1 company…
NEW DELHI: Govt has decided to rework its proposal on long-term capital gains tax for real estate by providing individuals and HUFs the option to pay tax along with indexation benefit at 20%, or at 12.5% without indexation, depending on where they are better off. The tweak — for properties acquired before July 23, 2024…
Budget 2024 indexation relief: The government has provided a significant relief to taxpayers by introducing an amendment that allows them to choose between a 12.5% long-term capital gains (LTCG) rate without indexation or a 20% rate with indexation for properties acquired before July 23, 2024. This development was included in the list of amendments to…
Systematic investment plans (SIPs) in thematic/sectoral funds, as well as small and mid-cap schemes, have yielded returns that are more than twice as high as those of the broader market benchmark index Nifty 50 over the past three years.In contrast to the 21.3% return generated by an SIP in the Nifty 50 index over the…
Infosys GST notice update: The Indian government has no plans to ease the Rs 32,000 crore ($4 billion) tax demand it issued to Infosys, a government source revealed to Reuters. The tax demand, which aligns with the country’s good and services tax regulations, was sent to the IT services company, which ranks as the second-largest…
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, surged in opening trade on Tuesday after a huge fall the previous day. While BSE Sensex moved above 79,600 levels, Nifty50 was above 24,300. At 9:16 AM, BSE Sensex was trading at 79,679.64, up 920 points or 1.17%. Nifty50 was at 24,329.80, up…
NEW DELHI: Amid growing demand for a cut, if not removal, of GST on health and life insurance, government on Monday told Parliament that the levy fetched it Rs 21,256 crore during the last three financial years, with Rs 8,263 being collected during 2023-24.Responding to a Parliament question, junior minister for finance Pankaj Chaudhary said…
Stock market crash today: BSE Sensex and Nifty, crashed in trade on Monday, on the back of growing US recession fears and global factors such as geopolitical tensions in the Middle East and worries over reverse Yen carry trade. BSE Sensex and NSE Nifty both plummeted nearly 3 percent. Santosh Meena, Head of Research at…
