E-PaperBudget News
Reeves Hints Tax Rises Needed to Fill £22 Billion Black Hole
Rachel Reeves announced a slew of measures to shore up the UK’s public finances as she accused the previous Conservative government of running up a £22 billion ($28.3 billion) black hole, and signaled she may have to raise taxes at the budget in the autumn to help balance the books.
4 min read29 Jul 2024Planning for your child’s retirement? Discover how the NPS Vatsalya scheme can help
This year’s Union Budget included the well-thought-out NPS Vatsalya scheme, which aims to provide children with a stable financial future. It helps parents to begin saving and investing for their child’s retirement at a young age by encouraging these behaviors.
2 min read29 Jul 2024TV Mohandas Pai questions Centre’s tax on property sale, says ‘citizens need answers…’
A Mint analysis showed that selling property under the revised LTCG tax regime, could push your liability up substantially.
2 min read29 Jul 2024This budget has a devil in its implementation details
Its employment measures skirt the main issue, offering the economy band-aids as solutions for joblessness that may not work as envisaged.
4 min read28 Jul 2024Budget 2024 deemed non-event, markets ‘back to the boardroom’, says Vinod Nair
Vinod Nair or Geojit Financial Services believes that going forward, the market is expected to play align with the Q1FY25 results, which have so far been weak.
3 min read28 Jul 2024Budget 2024: The TCS credit against TDS on salary is a toothless provision
The budget announcement that a provision relating to tax collected at source, or TCS, will be amended to benefit taxpayers, in fact, doesn’t offer any relief at all. The tax deducted at source, or TDS, doesn’t get actually reduced with this new amendment.
4 min read28 Jul 2024When India closed the door on its controversial e-commerce tax, it left a window open
India has scrapped the 2% e-commerce tax but retains the power to tax income from digital services under other tax provisions.This move is seen as a compromise between India’s desire to tax digital giants and its participation in global tax negotiations.
3 min read27 Jul 2024Invested in debt MF before 1 April 2023? You may pay 40% higher tax on gains
The removal of indexation benefits on debt mutual funds increases tax liabilities for investors, taxing gains at a flat 12.5% without indexation. Investors will do well to reassess strategies and consult financial advisors for better tax-efficient options.
2 min read27 Jul 2024The budget has tax changes galore but mostly for the better
The budget’s taxation changes are well thought out. Notable moves were made on capital gains, apart from the buyback tax and angel levy. The overall drive for simplification should ease litigatio
4 min read26 Jul 2024Confused whether capital gains tax on your asset sale will be short term or long term? Here is a complete guide
The sale of bonds and debentures will be taxed as long-term capital gain when it occurs within two years of the purchase of the asset, compared to three years earlier.
1 min read26 Jul 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared