The Finance Minister presented an action-packed budget today with a number of changes on the personal taxation and capital gains front. Here are the important changes. #1 Increase in Capital Gains Tax (Negative) Long term capital gains (LTCG) tax on sale of stocks/equity funds has been increased from 10% to 12.5%. The exempt LTCG limit… Continue Reading
This may sound strange, but this may indeed be true for many taxpayers. Why? Because the Union Budget 2023 has incentivized the New Tax regime in a big way by reducing the tax rates in the various income slabs. And the New Tax regime does NOT give you any tax benefits for tax-saving investments. No… Continue Reading
The Finance Minister presented the Union Budget 2022 on February 1 2022. I share a few important proposals from the Budget announcements. There were no fireworks on the retail taxation front with no change in income tax slabs or Section 80C investment limit. However, there is a good and bad news for crypto investors. #1… Continue Reading
The tax-saving season is round the corner. Are you still running around to finalize tax-saving investments? Well, there are so many ways to save tax. There is PPF, EPF, NPS, ELSS, LIC policies, ULIPs, 5-year FDs, life and health insurance plans, pension plans and many more. In this post, I do not intend to discuss… Continue Reading
The Finance Minister, Nirmala Sitharaman, presented the Union Budget 2020 in the parliament yesterday. In this post, let’s look at the highlights of the Budget proposal. We will look at the proposals from personal taxation perspective only. #1 Restructuring of Income Tax Slabs, Lowering of Personal Tax Rates and a Choice There is a major… Continue Reading
Many of us have grown so fond of rewards points that we even want to make our investments through credit cards. Sounds good, right? It is like having a cake and eating it too. Many times, I hear this question (investment through credit card) at the end of the financial year when many of us… Continue Reading
This year’s Union Budget is a mixed bag for salaried class and the real estate investors. Here is a look at key budget announcements. Reduction in tax rate from 10% to 5% for income tax slab of Rs 2.5 lacs to Rs 5 lacs (Positive) Introduction of Surcharge of 10% for taxable income between Rs… Continue Reading
New Pension Scheme (NPS) has got quite popular in the last few years due to favourable tax announcements. In this post, I will discuss NPS basics, tax benefits on investment and tax treatment at maturity. Finally, I will discuss whether you should invest in NPS. NPS Is a Defined Contribution Pension Plan Under a defined… Continue Reading