Finance Minister Sitharaman

Goods and Services Tax: Finance Minister Sitharaman asks CBIC to address tax concerns of taxpayers

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Goods and Services Tax: Finance Minister Sitharaman asks CBIC to address tax concerns of taxpayers

Finance Minister Nirmala Sitharaman, during a meeting on Friday (August 23), emphasized the importance of addressing tax-related concerns promptly. She urged officers of the Central Board of Indirect Taxes and Customs (CBIC) to be proactive in resolving grievances to ensure efficient tax administration. Addressing a gathering at the inauguration of the new GST Bhawan in … Read more

Budget 2024: Without indexation, LTCG tax may surge by 290% for post-2010 housing assets, says BankBazaar report

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Budget 2024: Without indexation, LTCG tax may surge by 290% for post-2010 housing assets, says BankBazaar report

Budget impact: In the Union Budget 2024, the Centre has made noteworthy adjustment regarding the treatment of long-term capital gains (LTCG) in property transactions. Specifically, the indexation benefit has been eliminated, resulting in substantial modifications to the LTCG calculation.  Despite this change, it has been affirmed by the government that properties purchased or inherited prior to … Read more