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Source: Live Mint ITR 1 (Sahaj) is meant for resident individuals and Hindu Undivided Families (HUFs) with total annual income up to ₹50 lakh from sources like salary, pension, interest, dividends, and rent from one house. LTCG relief This year’s Budget raised the tax-exempt limit for long-term capital gains (LTCG) on securities from ₹1 lakh…
Source: Live Mint While all these vehicles pool investors’ money for investment and are regulated by the Securities and Exchange Board of India (Sebi), they are governed by different sets of regulations — and taxed under strikingly different rules. This fragmented approach has created opportunities for tax arbitrage, where investors can choose routes that offer…
Source: Live Mint I have an apartment that I want to sell. If I sell it before 31 March this year, will I have to pay the entire capital gains tax as advance tax by 31 March? My reservation is that the seller will pay me in 2 instalments so I will not have enough…
Source: Live Mint All three possessed exceptional analytical skills and a deep understanding of value investing principles. Yet most people have only heard of the first two. Buffett once said when markets crashed nearly 70% in 1973-74, Guerin, who had borrowed heavily to invest in equity, faced devastating margin calls. This forced him to sell…
Source: Live Mint These funds primarily attract foreign and NRI investors; however, their widespread adoption is limited by the high minimum investment requirement. Retail funds, which can accept investments as low as $100, are yet to be launched. In the previous Union budget, the government extended favourable tax treatment to retail funds in Gift City,…
Source: Live Mint Though the announcement was widely welcomed, it failed to address a critical question – does income from capital gains affect a person’s eligibility for the rebate? In other words, if a person with a ₹12 lakh salary earns an additional ₹1 lakh from capital gains, will they lose the rebate or will…
Source: Live Mint Three sisters inherited one piece of land in 2003, but it was partitioned among the sisters in 2010. For the indexed cost of the purchase in the calculation of long-term capital gain, should we take the market value as of 2003 (date of inheritance) or the market value as of 2010 (date…
Source: Live Mint So, what exactly makes land ‘rural’ in the eyes of the taxman? The answer lies in a set of specific conditions that could mean the difference between zero tax and a hefty capital gains bill. What is rural agricultural land? To be considered rural agricultural land, the property must not be located…
Source: Live Mint Finance Minister Nirmala Sitharaman announced on Saturday that Indians with incomes up to ₹12 lakh will effectively pay no income tax. They still need to pay the tax, but will receive a rebate (refund) of ₹60,000 under Section 87A of the Income Tax Act. However, certain types of income, including capital gains…
Source: Live Mint I want to redeem equity mutual funds this financial year but keep gains under ₹1.25 lakh to avoid capital gains tax. How can I check the split between principal and gains before withdrawing? Is there a portal, app or website for easy calculation? —Name withheld on request While there is no specific…
