Portfolio management services (PMS) are navigating new challenges after the Union Budget for 2024-25 increased tax on long-term capital gains (LTCG) and short-term capital gains (STCG). As stocks are held in the investor’s demat account in PMS, every buy and sell decision of the PMS manager has a tax impact for the investor, unlike a … Read more
Managing consumer debt during the festive season requires strategic planning and disciplined spending to avoid financial stress. With the allure of discounts and special offers, setting a realistic budget for gifts, travel, and celebrations is crucial to prevent overspending. Financial experts suggest avoiding essential expenses, using credit cards cautiously, and understanding loan terms to ensure … Read more
Fixed-income investments such as fixed deposit (FD) interest, bond interest, and debt mutual funds are typically taxed at the marginal rate (slab rate). The 2023 budget had abolished the benefit of long-term capital gains tax or LTCG for debt mutual funds. However, there’s a notable exception in the tax system for certain bond transactions. If … Read more
The recent amendment to long-term capital gains (LTCG) tax on real estate has brought some respite to property owners. Those who acquired real estate before 23 July 2024 now have the option to choose between a lower tax rate without indexation or a higher rate with indexation. Property owners will have the option to pick … Read more
The government will enable pooled private equity fund structures through VCCs, a system popular in tax-friendly jurisdictions such as Singapore and Mauritius. Mint explores the details of VCCs and how they are likely to be attractive to overseas investors. What are variable capital companies? Unlike typical funds where investors share risks and rewards uniformly, a … Read more
In its first budget since returning to power with a reduced majority, the Bharatiya Janata Party-led government has made job creation a central focus, introducing financial incentives aimed at expanding formal-sector employment. Although the specifics of the three targeted schemes are still pending, they primarily offer financial benefits to both first-time employees and employers. Despite … Read more
New Delhi: Simplification of direct and indirect tax regimes was the focus of the Union budget for FY25, senior finance ministry officials said on Friday. The goal of the government was not to increase or reduce taxes, but to simplify the process of paying taxes for individuals and businesses, to promote ease of doing business … Read more
In the Union budget for 2024-25, among the 85 proposed amendments in the Finance (No. 2) Bill, 2024, the revision concerning the taxability of long-term capital gains (LTCG) from the sale of immovable property, effective 23 July 2024, has garnered significant attention. This piece deciphers the complexities of this critical budget amendment, offering practical calculations … Read more
Mumbai: A key focus of the Union budget is generating employment, and bringing large sections of the young workforce from the informal to the formal sector is one of the government’s goals. The Union budget has allocated ₹1.48 lakh crore for education, employment and skilling to alleviate concerns over unemployment, by rolling out schemes aimed … Read more
Economic Survey and Union Budget 2024: Finance Minister Nirmala Sitharaman is set to announce the government’s Union Budget 2024 next week, on July 23. This is her sixth full Budget and comes after the NDA coalition won majority in the 2024 Lok Sabha Elections which concluded in June. Final stages of preparation for the Budget … Read more