Capital gains taxupdates This revenue will now be taxed as regular income. Short-term gains on financial assets will see a tax rate increase to 20% (up from 15%), while long-term gains will have a reduced rate of 12.5% (down from 20%). New income category names "Income from Salary“...
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 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...
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...
The meaning of INCOME TAX is a tax on the net income of an individual or a business. How to use income tax in a sentence.
10/18/2024 Tax rate for long-term capital gains applicable to gains from transfer of depreciable assets held for more than 36 months: ITAT Special Bench ITA No. 7544/Mum/2011 10/18/2024 CBDT issues Form 12BAA to enable employees report details of TCS and TDS to their employers Rule 21...
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...
Capital gains on transfer of shares in Indian company by Mauritius Company holding valid TRC is not chargeable to tax under the India-Mauritius tax treaty The taxation of cross-border transaction involving transfer of shares of an Indian company and the applicability of India-Mauritius tax treaty ...
Taxation on Best Tax Saving Mutual Funds in India The principal amount invested in ELSS is allowed as a deduction under section 80C up to Rs 1.5 lakh of the Income Tax Act, 1961. Long-Term Capital Gains (LTCG) tax is applicable on ELSS funds as the lock-in period is 3 years. LTCG ...
Nirmala Sitharaman, delivering herseventh Budget, raised the tax on trading futures and options to 0.02% and 0.1%, respectively — marking a 60% hike. In addition, the minister also lifted capital gains for stock market investors who cash in within a year from 15% to 20%. Long-term inv...