Business News - Page 26

Union Budget 2024: How hikes in short-term and long-term capital gains tax will impact investments

Hikes in both short-term capital gains (STCG) and long-term capital gains (LTCG) taxes are bound to affect investor perspective while managing capital assets. The Union Budget 2023-24 has increased the tax rate on STCG, previously at 15 per cent to 20 per cent. The tax rate on LTCG is now 12.5 per cent compared to the previous 10 per cent

Why Budget tweaked short- and long-term capital gains tax? It's a Rs 15,000 cr matter

Listed financial assets will have to be held for more than 1 year, while unlisted financial assets and all non-financial assets for at least 2 years to qualify for long-term capital gains tax.

Why the stock market crashed as Nirmala Sitharaman announced the Union Budget

The Indian stock market slumped over 1,000 points in the afternoon session as Finance Minister Nirmala Sitharaman unveiled the Union Budget 2024. While the Sensex and Nifty both recovered since then, it is reported that investor wealth fell by Rs 8.85 lakh crore. But what led to this drastic tumble?

Budget 2024: Corporate tax rate on foreign companies reduced from 40% to 35%

The government has reduced the Corporate tax rate on foreign companies from 40% to 35%, announced Finance Minister Nirmala Sitharaman on Tuesday while presenting her seventh consecutive budget

Budget 2024: FM Sitharaman cuts subsidies for food, fertiliser, fuel by 7.8%

Breaking down the allocations, the food subsidy has been set at Rs 2,05,250 crore, a decrease from the revised estimates of Rs 2,12,332 crore for the fiscal ending March 31, 2024. This subsidy covers the difference between the economic cost of foodgrains procured by the government and their sales realisation under the National Food Security Act (NFSA) and other welfare schemes, benefiting approximately 80 crore individuals

How Budget 2024 made selling property more taxing by removing indexation benefit

In her Union Budget 2024 speech, FM Nirmala Sitharaman announced the removal of the indexation benefits for property sales. The removal of the indexation benefit means that you would be paying taxes on higher amount than earlier. Here's how

Union Budget 2024: Indian economy is 'shining exception' in times of global policy uncertainties, says Sitharaman

Sitharaman emphasised that in times of policy uncertainties at the global level, India's inflation remained low and stable. Sithraman mentioned that the inflation in the country continues to remain within 4 per cent

Wanted to simplify long term capital gain tax, says Sitharaman in post-budget press briefing

"We wanted to simplify the approach to taxation, also for the capital gains. Second, if anything, the average taxation actual has come down. When we say it is 12.5 per cent, because we have worked out for each of the different classes... But the point is that we have brought it down from below average to 12.5 per cent, which is the lowest if you look at several years, encouraging investment in the market," said Sitharaman

Budget 2024: Centre withdraws equalisation levy of 2 per cent

The FM said that salaried employees under the new tax regime will save up to Rs 17,500 annually in taxes due to the changes proposed in the FY25 Budget.

FM announces ongoing work on NPS reforms to address key issues

Several non-BJP-ruled states had decided to revert to the DA-linked Old Pension Scheme (OPS) and also employee organisations in some other states have raised demand for the same. In her Budget Speech in the Lok Sabha, Sitharaman said the Committee to review the NPS has made considerable progress in its work. She said the staff side of the National Council of the Joint Consultative Machinery for Central Government Employees have taken a constructive approach

E-commerce to ESOPs: How TDS and TCS changes in Budget 2024 will affect you

In the first Budget of Modi 3.0, Sitharaman proposed that the 5 per cent TDS rate on many payments is being merged into the 2 per cent TDS rate and the 20 per cent TDS rate on repurchase of units by mutual funds or UTI is being withdrawn

Internships, education loans and more: How 2024 Union Budget benefits Indian youth

Youth was one of the four castes Sitharaman mentioned that needs to be in focus. The other three castes were, poor, women and farmers

Will gold, silver jewellery get cheaper after Budget 2024 announcements by FM Sitharaman?

In her Union Budget 2024 speech, Finance Minister Nirmala Sitharaman proposed to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent

Gold is cheaper, plastic more expensive: How prices have changed after Union Budget 2024?

Union Finance Minister Nirmala Sitharaman has unveiled significant cuts in customs duties during her presentation of the 2024 Union Budget, making some items such as gold, silver, and mobile phones cheaper. On the other hand, some products will get more expensive. Here’s the full list

Budget 2024: Stamp duty on properties bought by women to come down further

Finance Minister Nirmala Sitharaman in her Budget 2024 speech also proposed to discontinue the quoting of Aadhaar Enrolment ID in place of Aadhaar number with respect to taxation purposes

Plan to invest for your child's future? Budget 2024 has a new scheme - NPS Vatsalya

The NPS Vatsalya scheme is a variant of the existing National Pension System (NPS), specifically tailored for young individuals. This innovative programme allows parents or guardians to open accounts for their minor children and make contributions towards their retirement savings.

What was the Angel Tax that got abolished in Union Budget 2024? Why is this good news for startups?

As the Indian startup ecosystem continues to grow steadily, a significant boost has been provided to it. Finance Minister Nirmala Sitharaman has announced the abolishment of the Angel Tax, which was a headache for many startups that were looking to make it big. The tax used to cut around 30 per cent of the investment of startups from external investors which it deemed 'income from other sources'

FM announces incentives to boost maintainace & repair in Aviation, Shipping Sectors

India is one of the fastest growing domestic aviation markets in the world. "To promote domestic aviation and boat & ship MRO, I propose to extend the period for export of goods imported for repairs from six months to one year. In the same vein, I propose to extend the time-limit for re-import of goods for repairs under warranty from three to five years," Finance Minister Nirmala Sitharaman said

Budget 2024: All about new short-term and long-term capital gains tax rates

Long-term gains on all financial and non-financial assets, on the other hand, will attract a tax rate of 12.5 percent. Further, for the benefit of the lower and middle-income classes, the finance minister proposed increasing the exemption limit of capital gains on certain financial assets to Rs 1.25 lakh per year.

Budget 2024 has a lot in store for Bihar, Andhra: Why BJP allies JD(U), TDP have reasons to smile

There was a special focus on Bihar and Andhra Pradesh in Union Budget 2024. While the first will get airports, medical colleges and a tourism boost, Andhra will receive special financial support. The NDA ally states are led by Nitish Kumar and Chandrababu Naidu respectively

Budget 2024: FM Sitharaman keeps capex at Rs 11.11 lakh crore or 3.4% of GDP

Finance Minister Nirmala Sitharaman, in her Budget 2024 speech, said that the government will endeavour to maintain strong fiscal support for infrastructure

Nirmala Sitharaman lays out 9 priorities in Union Budget for Viksit Bharat: What are they?

Finance Minister Nirmala Sitharaman laid out nine priorities for the government in Union Budget 2024, saying they are necessary to realise the dream of a Viksit Bharat. These priorities are: productivity in agriculture, employment, social justice, manufacturing, urban development, energy security, infrastructure, innovation and next-generation reforms

Union Budget 2024: Standard Deduction goes up from Rs 50,000 to Rs 75,000 under new tax regime

It is pertinent to note that the standard deduction is available under both old and new income tax regimes

Understanding the 3 Employment-linked schemes under EPFO in PM's budget package: Who will benefit?

In a bid to push interest in employment in manufacturing inside the formal sector of the economy, Finance Minister Nirmala Sitharaman announced three employment-linked incentive schemes as part of the Union Budget on July 23. The three schemes will be implemented as part of the Prime Minister’s budget package. These schemes will be based on enrollment inside the EPFO (Employees Provident Fund Organisation)

Budget 2024: FM introduces plans to simplify rules in bid to attaract FDI

A five-year vision document will be introduced to address the financial needs of the economy. This strategic plan will set clear priorities and actions to support economic growth and development over the next five years

Union Budget 2024: All about new income tax rates and change in slabs

An assessment of income tax can be opened beyond the existing time limit of three years if annual income is more than Rs 50 lakh (Rs 5 million), she said

Good news for start-ups: Budget 2024 abolishes 'angel tax' for all classes of investors

Angel tax is levied on the capital raised via the issue of shares by unlisted companies from an Indian investor if the share price of issued shares is seen in excess of the fair market value of the company

FM announces transformative energy policies to boost solar power, nuclear technology

The PM Suryaghar Muft Bijli Yojana has been launched to support the installation of rooftop solar panels. This scheme aims to provide free electricity up to 300 units per month for one crore households. The initiative has received a remarkable response from the public, reflecting strong interest in renewable energy solutions

Budget 2024: Bloodbath on D-Street after Sitharaman's capital gains tax move; Sensex, Nifty down over 1%

Sensex and Nifty tumbled over one per cent on Tuesday after Finance Minister Nirmala Sitharaman announced tweaks to the capital gains tax regime

Union Budget 2024: Fiscal deficit target lowered to 4.9% of the GDP for FY24-25, says Sitharaman

Fiscal deficit means the difference between the government expenditure and income. It was projected at 5.1 per cent in the Interim Budget in February, against 5.8 per cent in the last fiscal year