The government on Tuesday sought to address a significant concern stemming from the 2024-25 Budget announcement by introducing flexibility in the computation of long-term capital gains (LTCG) tax on unlisted assets, including properties. For any assets, such as land or buildings, acquired before July 23, taxpayers can choose between the new and old regimes, opting for whichever results in a lower tax liability. Under the new LTCG regime, the tax rate is set at 12.5 per cent without the benefit of indexation.
Posts tagged Rediff
GST To See Two Slab Rate Structure? (07-08-2024)
Of the two rate structures on the table, one suggests tax slabs of 8 per cent, 16 per cent, and 24 per cent. The other proposes tax slabs at 9 per cent, 18 per cent, and 27 per cent.
Amazon India Head Quits (07-08-2024)
Manish Tiwary plans to take up a new role at another firm.
Customs duty cut on silver may give Centre a breather (07-08-2024)
The steep cut in Customs duty on silver in the FY25 Budget to 6 per cent from 15 per cent may provide the government temporary relief by checking the spurt in silver imports from the United Arab Emirates (UAE) under the Comprehensive Economic Partnership Agreement (CEPA). In FY24, silver imports from the UAE jumped to $1.7 billion from only $11.18 million in FY23, according to commerce department data. In May, about 87 per cent of India’s silver imports came from Dubai.
Customs duty cut on silver may give Centre a breather (07-08-2024)
The steep cut in Customs duty on silver in the FY25 Budget to 6 per cent from 15 per cent may provide the government temporary relief by checking the spurt in silver imports from the United Arab Emirates (UAE) under the Comprehensive Economic Partnership Agreement (CEPA). In FY24, silver imports from the UAE jumped to $1.7 billion from only $11.18 million in FY23, according to commerce department data. In May, about 87 per cent of India’s silver imports came from Dubai.
‘Made Good Money? Take Your Capital Out’ (07-08-2024)
‘Forget your loss or profit in your portfolio.’ ‘Look at how much cash you have in hand.’ ‘If you don’t have cash in hand, liquidate at least partially; get into about 20 per cent in cash.’
‘Made Good Money? Take Your Capital Out’ (07-08-2024)
‘Forget your loss or profit in your portfolio.’ ‘Look at how much cash you have in hand.’ ‘If you don’t have cash in hand, liquidate at least partially; get into about 20 per cent in cash.’
C S Setty appointed new SBI chairman for 3 years (06-08-2024)
The government on Tuesday appointed C S Setty as chairman of the country’s biggest lender State Bank of India (SBI) for a period of three years. Setty, currently senior most MD of the bank, will replace incumbent chairman Dinesh Kumar Khara on August 28.
Govt gives option to calculate LTCG tax on properties (06-08-2024)
The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.
Electric vehicle sales rose 55% to 1.79 lakh units (06-08-2024)
Electric vehicle sales registered a 55.2 per cent on-year growth at 1,79,038 units in July driven by a massive 96 per cent jump in e-two-wheeler sales, automobile dealers’ body FADA said on Tuesday. The total electric vehicles sales for July 2023 were at 1,16,221 units, according to the monthly sales data from Federation of Automobile Dealers’ Association (FADA).