The article discusses two court cases related to capital gains tax policy under the India-Mauritius tax treaty. It announces that Delhi Income-tax Appellate Tribunal (ITAT) settled the issue about the eligibility of the taxpayer in the case of Saraswati Holding Corporation. In the case of Azadi...
Capital gains tax is the tax levied on the profit made by an individual or an entity from the sale of an asset such as shares, property, or other capital assets.
2. Capital Gains Tax No capital gains tax in the US. In India, Long Term Capital Gains tax applicable on stocks held for over 2 years. 20% plus all applicable fees and surcharges for LTCG. Short Term Capital Gains applicable on stocks held for less than 2 years. ...
*Note: From April 2023, capital gains from debt mutual fund investments will be taxed as per the investor’s income tax slab rate with no LTCG benefit. How to Compute Tax on Long Term Capital Gain? Long term capital gain tax can be computed as per the below table: Full value of cons...
Capital Gains Tax in India In India, the tax is not imposed on the long-term capital gains of stocks and equity mutual funds. But, 15% tax is levied on the short-term gains. Both short and long-term capital gains are taxed in the case of debt mutual funds. While the long-term gain...
*Note: From 1st April 2023, the capital gains from debt-oriented mutual funds will be taxable as per the investor’s income tax slab rate. This is irrespective of the investment holding period. Check: Long Term Capital Gain TaxLong Term Vs Short Term Gain Tax Rate in India 2024...
Tax Query explains the tax implications on gains from debt mutual funds. Effective April 1, 2023, the gains from debt mutual funds are taxed at slab rates and the same will be considered as short-term capital gain irrespective of the holding period.
On the sale of individual's real estate that was used as the vendor's residence, If the proceeds are invested in the purchase of alternative real estate for a residence in Portugal or EU/EEA country within a short period as defined in law, the capital gain is exempt from tax. For indiv...
Long-term capital gains as per Section 112A arising on the sale of listed equity shares Equity-oriented schemes of mutual funds that are payable 12.5% after the initial exemption of Rs. 1.25 lakhs. Latest Changes in the New Rebate U/S 87A in Budget 2023 In 2013, a proposal for the Sec...
05/07/2024 Premium received on redemption of debentures is interest income; not capital gains Khushaal C Thackersey v. ACIT (ITA No. 3679/Mum/2015) (Mum) 05/01/2024 India Tax Konnect - April 2024 - 04/26/2024 Safe harbour rule for the angel tax provisions is curative in nature; app...