Budget 2019 could veer towards populism; expect income tax rationalisation, higher deductions for healthcare and investment
Last year, personal income taxes were untouched and mutual fund investments were hit thanks to the return of the dreadful LTCG for equities
Sovereign Gold Bonds will be issued every month from October 2018 to February 2019 as per the calendar specified,
Other tax proposals like the reduced corporate tax of 25 percent on businesses logging a turnover of up to Rs 250 crore will come into effect from 1 April.
The government-insurance partnership will drive the crop and health insurance schemes announced.
According to market observers, disappointing announcements in the Budget like the reintroduction of the LTCG tax and a higher-than-expected fiscal deficit target for 2018-19 continued to dampen investors' risk-taking appetite
LTCG tax kitty from stocks to double to Rs 40,000 crore in FY20, says Revenue Secretary Hasmukh Adhia
Defending the reintroduction of the LTCG tax after a gap of 14 years, Finance Secretary Hasmukh Adhia said if the salaried class pays up to 30 percent income tax after toiling, it is only fair that those who make huge returns on stock market investment are brought into the tax net
With the Budget spooking the market sentiment with the 10 percent long-term capital gains tax on equities gains, American brokerage Morgan Stanley has opined that life insurance products, particularly Ulips could be relatively attractive from a medium-to long-term.
Currently, the short-term capital gains tax is fixed at 15 percent, but report suggests that the rate could be increased to 20 percent during this year's budget announcement
A strong pitch for removing the differential treatment of taxing long-term gains in listed and unlisted companies have been made
Under the Section 54 EC of the Indian Income Tax act, investing in these bonds help you save LTCG tax of 20 percent applicable on the gains you made.
Any individuals, Hindu Undivided Family (HUF), approved institution and non-resident Indians, can invest in these bonds provided certain conditions are met.