TAX ADVANTAGES
Has the time come for patience to finally pay? 6 insurance stocks with potential upside of up to 34%
First it was union minister Nitin Gadkari, who spoke about the need to remove the GST on life and health insurance. While his letter, which apparently was revealed without his permission but then there were some reports which suggested that the fitment committee will recommend it to the GST council to look at considering the waiver. Whether this happens or not it has to be seen. But one thing is for sure that the insurance sector is one sector where a narrative got created around overall opportunity and expectations were sky high and then in reality things didn't turn out to be as expected and the stocks have also not performed. But over the years, insurance companies have also learnt their lesson over time and probably after a long phase they have reached a point where things would improve as the insurance product finally becomes a product which is taken as a need and not as tax saver.
Delhi High Court upholds Mauritius tax treaty benefits, overturns AAR ruling against Tiger Global
The Delhi High Court has ruled in favor of Tiger Global, dismissing the tax department's claim that the firm's Mauritius-based entities were mere facades to avoid capital gains tax in the 2018 Flipkart-Walmart deal. The court upheld the validity of tax residency certificates (TRCs) issued by Mauritius, emphasizing that investments through Mauritius shouldn't be viewed with suspicion. This decision reassures foreign investors who benefited from tax treaties before 2017 and strengthens Mauritius' position as a financial hub. The ruling is expected to be contested by the tax authorities in the Supreme Court.
RBI buying back SGBs: Should you tender?
The Reserve Bank of India has decided to offer early redemptions for 30 Sovereign Gold Bond series maturing from October 2024 to March 2025. Investors can choose to withdraw early starting September 2024. Financial experts advise against early redemption to maximize benefits, as past bond holders earned an average return of 10.94%.
Term plans should be your first life insurance policy: Amit Jhingran, SBI Life Insurance
"Term plans should be the first choice for anyone to start the journey of life insurance coverage. These plans provide substantial coverage at an affordable price. By focusing on protection, consumers can secure their financial future without compromising affordability," says Amit Jhingran, SBI Life Insurance.
No indexation benefit even for LTCG on debt mutual fund investments made before April 1, 2023
These debt mutual funds taxation rules changed: The government has rationalised the capital gains taxation rules. The new tax rules will impact debt mutual fund investments made on or before March 31, 2024, to avail of the indexation benefit. Redemptions and transfers made on or after July 23, 2024, will be taxed at the new LTCG tax rate of 12.5% without indexation benefit, provided debt mutual funds were held for more than 24 months.
Tax breaks are India’s lure as green debt misses bond frenzy
India aimed to attract interest in its green debt by allowing trading from Gujarat's finance hub. However, despite tax benefits, the bonds faced low demand due to limited supply and liquidity.
- Go To Page 1
FM Nirmala Sitharaman urges income tax department to simplify tax notices and avoid 'threatening tone'
During the 165th Income Tax day celebration, Finance Minister Nirmala Sitharaman encouraged the Income Tax department to foster a fair and friendly reputation among taxpayers. She highlighted the importance of simplifying the language used in tax notices to ensure they are easily understood by the public. Sitharaman also congratulated Indian taxpayers on their achievements.
GST sleuths tracking merchants skipping tax via digital payments
The rapid growth of digital payments prompted increased scrutiny of online merchants by the DGGI due to rising tax evasion cases and GST frauds. Authorities worked with startups and payment gateways to monitor proper GST invoicing. Continuous monitoring and vigilance were required to identify and correct anomalies in merchants’ activities, highlighting the need for rigorous due diligence from payment aggregators.
How tax policies will shape global economic future? Dinesh Kanabar answers
In fact, if you are looking on tax as a philosophy because this is sort of just one side of the debate, if the prices are going the way they are and the government wants to bring them under control and promote consumption and whatever else, there is a need for a reduction of indirect taxes
New capital gains taxation rules: Investors can pick assets purely on merit rather than to optimise tax outgo
After the recent budgetary changes, you can build your investment portfolio without being dictated by tax gains.
Made false deduction claim in ITR? Income tax dept wants employees to rectify this and pay the due tax or be ready for penal action
Income tax deduction: Incase you have mistakenly claimed a incorrect or wrong tax deduction or exemption and thus as a result your tax liability got reduced, then fix this as once. This is becuase if the tax department catches you and it is proved that you evaded taxes, then you can also be jailed.
New share buyback rules from October 1, 2024: A higher tax for many, but these people will gain
New equity buyback rules: Budget 2024 amended the income tax laws on how share buybacks are taxed. The new laws announced in July will be effective from October 1, 2024. The new laws tax the share buybacks in a similar fashion as dividends are taxed now. The new income tax laws will impact most taxpayers negatively. However, certain taxpayers will gain as well.
Why Donald Trump's and Kamala Harris' proposals to end taxes on workers' tips would be difficult to enact
Both Donald Trump and Kamala Harris revealed plans to remove federal taxes on tips for workers. Experts indicated that the move would be complex, costly, and might largely benefit higher-income workers instead of low-wage earners. Specific details on whether income, payroll taxes, or both would be exempt remain unclear.
Companies race against taxing times to give buyback call
Within just the three weeks since the budget announcement on July 23, 15 companies have already announced buybacks, compared with 18 that did so between January 1 and July 23.
Impact of new capital gains taxes on PMS investments of UHNI investors
Short-term momentum-based PMS strategies were already disadvantaged due to their frequent churn, and the recent tax changes have only exacerbated this issue.
Capital gains tax changed, big relief for homeowners: 12.5% LTCG tax or 20% tax with indexation, which will reduce tax outgo?
Capital gains indexation calculation after amendment of Finance Bill, 2024: The Union government offers a huge relief property owners by allowing a choice between two options for long-term capital gains (LTCG) on the property — 20% LTCG tax with indexation or 12.5% LTCG tax without indexation. The Budget had proposed a lower LTCG tax without indexation benefits. However, taxpayers can now opt for the old LTCG tax with indexation or the new one with a lower rate that lowers their tax outgo. Calculate and understand which LTCG option helps you to save more tax now.
Bengaluru is not a 'metro': Centre refuses to grant metro status to India's IT capital. Here's why
The Central government has declined to grant 'Metro' status to Bengaluru, affecting the higher HRA tax exemption that residents desire. Union Minister Pankaj Chaudhary stated the policy would remain unchanged. Despite Bengaluru’s rapid growth, the government opted to uphold its rational tax policy, leaving the city classified as non-metro for HRA purposes.
Should you invest in arbitrage funds after Budget 2024 increased STCG tax?
Now, with the tax on short-term capital gains proposed to be hiked to 20% from 15%, investors will face a higher tax burden. Will this diminish the appeal of arbitrage funds? Read here to find out
Hyundai, Tata doesn't want UP to give a major tax advantage to Maruti, Toyota
Hyundai, Kia, Tata, and Mahindra opposed Uttar Pradesh's incentives for hybrid cars, stressing it hinders electric vehicle adoption and investment plans. The state recently made hybrids cheaper by waiving certain taxes, favoring competitors like Toyota. The government is currently reviewing the concerns, with a decision expected post an August 11 industry meeting.
Capital gains tax framework completely overhauled: Changes that can hurt you, measures that can lower your tax
In a paradigm shift, Budget 2024 has completely overhauled the capital gains tax framework.
Paying income tax using net banking, credit card or debit card? You will be charged for it if you don't have this bank account
Income tax payment: You can pay the income tax amount through net-banking, UPI, debit card, credit card and UPI QR. "Recently, the Canara Bank payment gateway on the Income Tax website began accepting American Express (AMEX) cards for tax payments. They are charging a fee of 0.9% plus GST for these transactions," as per Ankur Mittal, co-founder, cardinsider.com
Vietnam more viable than India in China+1 strategy? FM Sitharaman says they have 'advantages'
On being quizzed on if Vietnam is benefitting more from China Plus One strategy, Sitharaman told The Economic Times that Vietnam has had certain advantages such as border sharing with China. “I don’t think we can conclude that it has not worked for us. There are advantages that Vietnam has had since some time and being contiguous to Chinese territory can also be one advantage that they had over us,” Sitharaman said.
Confident of achieving 45-55% growth this financial year: Avinash Godkhindi, Zaggle Prepaid
So, it is great that more and more people are coming into the formal sector and organised employment. And as they come into organised employment, they get PF, ESIC, they pay your taxes and eventually they want to save on those taxes.
India needs to take advantage of global pushback, inefficiencies due to Beijing’s over-investment
The 'China+1' strategy has gained momentum over the last few years as the US-China strategic conflict has heightened. Countries, including India, have been competing to be the '+1' by easing policies and providing incentives to attract foreign firms. These firms are looking to reduce their dependence on China for manufacturing. Despite these efforts, China's global share of manufacturing has not decreased. It has actually increased from 35% in 2020 to an estimated 38% now.
Equity mutual funds offer average return of 1.20% in May, sectoral funds top chart
Equity mutual funds offered an average return of 1.20% in May, with sectoral funds topping the chart in performance.
These 36 equity mutual funds never gave negative annual returns in 10 years of Modi government
ETMutualFunds analysed equity schemes spanning diverse categories, tracking performance from 2014 to 2023 under the Modi government. Notably, 36 schemes consistently delivered positive returns, showcasing resilience across various market conditions. Notable inclusions are arbitrage, equity savings, balanced advantage funds, among others
There's a fork in the road to clean energy
Hybrids run on electricity generated by burning fossil fuels. This situation will not change as we move up the hybrid technology tree. EVs, too, run on electricity produced in India principally from fossil fuels. However, transition to renewables makes EVs progressively less polluting. At some point in the future, EVs will be far cleaner than hybrids. So, do the two categories deserve the same fiscal encouragement?
Samco Mutual Fund launches Special Opportunities Fund
The fund is designed to capitalise on identifying the market opportunities, aiming for long-term capital growth through undervalued or overlooked opportunities, according to a press release by the fund house.
Shashi Tharoor’s mutual fund portfolio worth Rs 1.72 crore has these 23 schemes
Shashi Tharoor, Chairman of the Parliamentary Standing Committee on Information Technology and former Minister of State for HRD and External Affairs, filed his nomination papers for Thiruvananthapuram Lok Sabha seat in 2024 general elections. He has declared that his total investments in mutual funds was at Rs 1.72 crore.
Load More
