Net direct tax collection saw a significant increase of 16.45% year-on-year, reaching a total of over Rs 15.82 lakh crore by December 17 of the current fiscal year, as per the recent government data. The growth was largely driven by a higher advance tax collection, which rose by 21% to Rs 7.56 lakh crore during … Read more
I am 71 years old and I have sold my house in Delhi for Rs 90 lakhs. If I don’t want to buy a new house with this money or reinvest in any new commercial property, how much total tax, capital gains and others, will I have to pay this financial year? Name withheld Reply … Read more
Finance Minister Nirmala Sitharaman on Thursday said the Centre has decided to Securities Transaction Tax (STT) as it helps the government trace big-ticket spending. Speaking in the Raja Sabha on whether STT should be removed as capital gains tax has been restructured, FM Sitharaman said: “A member of the House spoke of STT rates and … Read more
When Finance Minister Nirmala Sitharaman presents the Union budget later this month, investors, taxpayers, corporates, and mutual fund houses will be hopeful for some significant tweaks in the structure of the capital gains tax, which is currently not standard. The Capital gains tax burden experienced by investors can differ depending on the type of asset … Read more
With the start of the new financial year, a slew of regulatory changes will impact your investments across equity markets, mutual funds and other schemes. Here’s a guide on what changes for investors in FY24. STT hikeIn a surprise move during the Parliament session, the union government has proposed to increase Securities Transaction Tax (STT) … Read more
NEW DELHI: Finance Minister Nirmala Sitharaman‘s latest move to increase securities transaction tax (STT) on selling options has left traders confused. The latest amendment to Finance Bill 2023 passed by the Lok Sabha today shows that the STT on selling of options has gone up from 0.017% to 0.021%. However, NSE website shows that with … Read more
In the first week of October, one of my friends was surprised to see a significant credit in his bank account from his equity broker. On inquiring, he got to know that from then onwards; brokers are supposed to transfer the available credit balance in the trading account to the investor’s bank account at least … Read more