Disputes relating to wealth, securities transaction, commodity transaction taxes and equalisation levy will not be covered under 'Vivad Se Vishwas' amnesty scheme
Budget 2020: From initiatives to boost consumption, promote growth, here's a slew of expectations from Nirmala Sitharaman
When it comes to saving instruments, the types of instruments where relief for interest earned is available is different for different categories of taxpayers, adding complicity to tax laws and making it burdensome for the average taxpayer
Budget 2020: Commodity participants body urges govt to address high cost of trading in Indian markets
The Commodity Participants Association of India (CPAI) has urged the government to address high cost of trading in the Indian markets, which is leading to drastic drop in volume and liquidity
Urjit Patel said there is sizable scope for the investment to GDP ratio to improve and pointed out to increasing capacity utilisation levels
The steady fall in Sensex and Nifty following the Budget is not only due to the proposed 10 percent tax on LTCG but also in sympathy with the worldwide trends notably the one triggered by the US markets.
Hasmukh Adhia alleys investors' fears, says LTCG tax not causing sell-off at markets; blames global slump
Hasmukh Adhia, who is also Revenue Secretary, said income of government from Securities Transaction Tax (STT) is a paltry Rs 9,000 cr
In Frequently Asked Questions (FAQs), govt said the Budget for 2018-19 provides for taxing Rs 1 lakh and above of Long-Term Capital Gains arising from sale of shares held for over one year at a concessional rate of 10 percent
Arun Jaitley feels need for humoring stock market by taxing STCG and LTCG there from at concessional rates of 15 percent and 10 percent respectively.
Budget 2018: Why mutual fund investments continue to remain attractive saving option despite return of LTCG tax
Report says despite re-introduction of LTCG tax, investments made in equity related mutual funds still remained profitable.
The government estimates to collect Rs 9.80 lakh crore from direct taxes in the current fiscal.
The net direct tax collection represents 14.5 percent of the total Budget Estimates of direct taxes (Rs 9.8 lakh crore) for 2017-18,
The further inference therefore is if shares are actively traded shares borne of preferential allotment they would enjoy immunity from LTCG tax even though STT was not paid
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
Though the steps taken by the government have helped improve investor perception towards India as well as the ease of doing business in the country to some extent, there exist certain bottlenecks which need urgent attention
The other nightmare that will be caused by taxing internal transactions is demand for tax on services rendered by any head office of any company to its branch offices in other states.
The growth rate of direct tax collections, however, is still short of annual target of 16 percent. During the April-December period of last fiscal, the government had collected Rs 4.84 lakh crore.
Advance tax collection from corporates rose by 8.4 percent to Rs 1,76,935 crore as compared to the same period last year, it added.<br /><br />
The collections totalled Rs 2.72 lakh crore in the same period of 2012-13 fiscal.
Budget 2012 was nothing to write home about, overall. But it did offer individuals and retail investors some reason to smile with the cut in STT and hike in income tax limit.