Articles for Capital Gains

Crypto Tax Gets Clarity, ITAT Rules VDAs To Be Recognised As Capital Assets. Check Out New Framework For Profits
6 days, 7 hours ago

Crypto Tax Gets Clarity, ITAT Rules VDAs To Be Recognised As Capital Assets. Check Out New Framework For Profits

ABP News  

The Income Tax Appellate Tribunal in Jodhpur has provided much-needed clarity on the taxation of cryptocurrencies in India. By recognising crypto as capital assets, it provides much-needed relief for investors who sold crypto before 2022, allowing them to benefit from long-term capital gains tax rates. For investors, this means that any profits made from selling cryptocurrencies will now be subject …

India Tax Cryptocurrency Crypto Capital Cryptocurrencies Capital Gains
Cryptocurrencies to be taxed as capital gains: Relief for pre-FY23 earnings
6 days, 15 hours ago

Cryptocurrencies to be taxed as capital gains: Relief for pre-FY23 earnings

India Today  

The Income Tax Appellate Tribunal in Jodhpur has clarified how cryptocurrency profits should be taxed in its ruling in Tuesday. TAXATION BEFORE AND AFTER 2022 Pre-2022 transactions: Before the Virtual Digital Assets regulations came into effect in 2022, profits from crypto sales were categorised as capital gains, much like profits from stocks or real estate. Investors holding cryptocurrencies for more …

Tax Crypto Capital Capital Gains 2022 Gains Transactions
What are the tax implications on gifted shares?
1 week, 1 day ago

What are the tax implications on gifted shares?

Live Mint  

I have a few queries regarding income tax on gifting shares. We have responded to your queries accordingly: 1) The gift of shares by A to B is not considered a ‘transfer’ and hence there will be no capital gain tax for A on this transaction. Also, receipt of gift of shares by B won't be taxable in B’s hands …

Gift Capital Gains Tax Capital Fmv Shares B Gifted Shares Tax C
Flat sale completed: What is the date of transfer for tax purposes? Is it the date of agreement or receipt of money?
1 week, 4 days ago

Flat sale completed: What is the date of transfer for tax purposes? Is it the date of agreement or receipt of money?

Live Mint  

I have sold my residential flat this month. Property Sale Completed: Key Tax Implications for ₹ 70 Lakh Gains Explained Since the ownership of the property stands transferred on the execution of the sale deed on which the transfer happened. Please note that after the removal of the indexation provision for practically all the purposes from the current year, you …

Tax Property Sale Capital Gains Lakh Deed Section 54
How are non-residents taxed on profits on the sale of real estate?
1 week, 5 days ago

How are non-residents taxed on profits on the sale of real estate?

Live Mint  

I am a NRI and PIO. Profits on the sale or transfer of land and buildings, whether residential or commercial, are treated as long-term capital gains if sold after 24 months. The long-term capital gains are taxed at a flat rate of 12.50% without any indexation benefits, as the budget presented on 23 July 2024 has withdrawn the indexation benefits. …

India Tax Capital Capital Gains Resident Nri Gains
Can I claim deduction under Section 80C against capital gains from listed shares?
1 week, 6 days ago

Can I claim deduction under Section 80C against capital gains from listed shares?

Live Mint  

I am a senior citizen and a retired person. I have earned short-term capital gains of around ₹5 lakh till now on listed shares. My tax consultant contends that the benefit of Section 80C is not available against the short-term capital gains from the sale of listed shares, and therefore, I will have to pay tax on the entire short-term …

Tax Income Capital Capital Gains Sec Lakh Benefit
How gains through margin trading facility transactions are taxed in India
2 weeks, 1 day ago

How gains through margin trading facility transactions are taxed in India

Live Mint  

The margin trading facility is a powerful financial instrument. The tax treatment of this interest depends on whether the income from MTF transactions is categorized as capital gains or business income. While interest expenses on borrowed funds are capped at 20% of dividend income for dividends, no specific provision under the Income Tax Act allows the deduction of interest expenses …

Income Capital Gains Set Itr Losses Transactions Ltcg
Tax Monthly Digest: November 2024
2 weeks, 6 days ago

Tax Monthly Digest: November 2024

Live Law  

SUPREME COURT DRI Officers Can Issue Show-Cause Notices Under Customs Act : Supreme Court Allows Review Against 'Canon India' Judgment Case Details : COMMISSIONER OF CUSTOMS vs. M/S CANON INDIA PRIVATE LIMITED Case no. A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma ruled, “Assessee's contention that E4e Healthcare is functionally dissimilar to the assessee and therefore, could …

Delhi Supreme Court Writ Petition Writ Jurisdiction Tax Court Uttar Pradesh
Sending money abroad? Here’s how to reclaim your TCS
3 weeks, 6 days ago

Sending money abroad? Here’s how to reclaim your TCS

Live Mint  

I want to send money to my son in the US under the Liberalised Remittance Scheme. However, the increased tax rate is applicable only on transfers made on or after 23 July 2024. For transfers during 1 April 2023 to 22 July 2024, earlier tax rate of 10% is applicable. Also, in case of short-term capital gain, the tax rate …

Tax Capital Gains 2024 Rate 1 April Tcs Ltcg
Tax Weekly Roundup: November 18 - November 24, 2024
4 weeks ago

Tax Weekly Roundup: November 18 - November 24, 2024

Live Law  

SUPREME COURT Mobile Towers & Pre-Fabricated Buildings Moveable Properties, Qualify As 'Capital Goods' For CENVAT Credit : Supreme Court Case title: M/S BHARTI AIRTEL LTD. v. THE COMMISSIONER OF CENTRAL EXCISE, PUNE Case no. The Court also found substance in State's argument that part of revenue is lost when vehicle is purchased from outside the State and therefore, it held, …

Justice Delhi Writ Petition Tax Court Customs Income Tax
Tax Weekly Roundup: November 18 - November 24, 2024
4 weeks ago

Tax Weekly Roundup: November 18 - November 24, 2024

Live Law  

SUPREME COURT Mobile Towers & Pre-Fabricated Buildings Moveable Properties, Qualify As 'Capital Goods' For CENVAT Credit : Supreme Court Case title: M/S BHARTI AIRTEL LTD. v. THE COMMISSIONER OF CENTRAL EXCISE, PUNE Case no. The Court also found substance in State's argument that part of revenue is lost when vehicle is purchased from outside the State and therefore, it held, …

Justice Delhi Writ Petition Tax Court Customs Income Tax
Tax breaks, reforms, and returns: Why NRIs are banking big on India
1 month ago

Tax breaks, reforms, and returns: Why NRIs are banking big on India

Live Mint  

India is cementing its reputation as a prime destination for global investors, with inflows into NRI deposit schemes surging to $7.8 billion between April and August this year—more than double the figure from the same period last year. By refining tax rules, increasing transparency, and aligning with global trends, the reforms position India as an attractive and efficient investment destination …

India Financial Tax Investment Reforms Indian Capital
Income From Sale Of Immovable Properties To Be Treated As 'Capital Gains,' Not 'Business Income': Kerala High Court
1 month ago

Income From Sale Of Immovable Properties To Be Treated As 'Capital Gains,' Not 'Business Income': Kerala High Court

Live Law  

The Kerala High Court has stated that income from the sale of immovable properties is to be treated as 'capital gains,' not 'business income' for taxation purposes. Jayakumar observed that “the requirement of ensuring uniformity and consistency in tax assessments cannot be overlooked, especially while categorizing the nature of the activity carried on by an assessee to earn its income …

Business Properties Tax Sale Assessment Income Tax Income
How falling stock market can help you save your income tax outgo?
1 month, 1 week ago

How falling stock market can help you save your income tax outgo?

Live Mint  

Savvy investors can turn market downturns into tax advantages through loss harvesting in a bear market. This technique enables individuals to sell underperforming stocks during a down market, resulting in losses that can be used to offset capital gains and, ultimately, lower their total tax obligation. Harvesting tax Losses Selling investments that have lost value to realize a loss is …

Market Tax Capital Gains Investors Gains Tax Loss Harvesting Capital Losses
Ex-Nxivm members sue sex cult’s leader saying she hasn’t paid $150,000 to victims of her crimes
1 month, 1 week ago

Ex-Nxivm members sue sex cult’s leader saying she hasn’t paid $150,000 to victims of her crimes

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. She was sentenced to prison for her crimes …

Sex Capital Gains Tax Mack Raniere Nxivm Salzman Sex Cult
What’s the TDS when buying property from an NRI?
1 month, 2 weeks ago

What’s the TDS when buying property from an NRI?

Live Mint  

What is the TDS rate for purchasing property from an NRI after 23 July 2024? -Name withheld on request If you purchase immovable property from a non-resident Indian after 23 July 2024, the applicable TDS rate depends on the duration the seller held the property: For property held more than 2 years: TDS is deducted at 12.5%. Read this | …

Tax Property Capital Capital Gains Nri Gains Tds
NRI investing in Indian stocks? Know about TDS on capital gains
1 month, 2 weeks ago

NRI investing in Indian stocks? Know about TDS on capital gains

Live Mint  

I have been a non-resident Indian for many years and have invested in Indian stocks using income earned abroad, deposited in my NRE account. While interest earned on NRE savings accounts is tax-exempt, this exemption applies only to interest income, not to capital gains from the sale of investments made using an NRE account. Even though the funds used to …

Indian Income Capital Gains Nri Account Accounts Gains
Rachel Reeves' plan to hike capital gains tax 'will bite into the profits of investors'
1 month, 3 weeks ago

Rachel Reeves' plan to hike capital gains tax 'will bite into the profits of investors'

Daily Mail  

Investors will lose more of their profits from the sale of shares after Chancellor Rachel Reeves announced an immediate hike to capital gains tax rates. For sales of shares, basic rate taxpayers typically pay 10 per cent on their gains, while higher and additional rate taxpayers must cough up 20 per cent. But this will now be raised in line …

Capital Gains Tax Investors Cent Rate Basic Rate Taxpayers Cgt Taxpayers
Labour's tax bomb leaves Britons £300 worse off: UK faces highest tax burden ever, businesses are battered by the Budget, wages will fall and inflation will rise
1 month, 3 weeks ago

Labour's tax bomb leaves Britons £300 worse off: UK faces highest tax burden ever, businesses are battered by the Budget, wages will fall and inflation will rise

Daily Mail  

Britain's growth prospects took a dive last night after Rachel Reeves' £40 billion tax bomb. In the first Labour Budget for 14 years, Ms Reeves: Launched a £25 billion raid on employers' National Insurance, breaking a manifesto pledge not to raise a levy she previously called a 'jobs tax'; Announced an immediate £25 billion cash injection for the NHS, despite …

Government England Tax Inflation Labour Budget Economic Growth
I've left the country... I can't grow my business... raising capital gains tax makes me angry... this Budget makes me feel sick: Real Britons react to Labour's tax bombshell
1 month, 3 weeks ago

I've left the country... I can't grow my business... raising capital gains tax makes me angry... this Budget makes me feel sick: Real Britons react to Labour's tax bombshell

Daily Mail  

Brits today revealed the real-life impacts of Labour's £40billion tax bombshell with entrepreneurs, families and publicans counting their losses.but there was at least good news for drivers and low-paid workers who breathed a sigh of relief. PUB OWNER: 'The death of The Great British Pub' Name: Simon Delaney Age: 59 Lives : Manchester Job: Pub landlord Simon Delaney, who has …

Business Family London Tax Labour South Africa Money
What are the chances of Rachel Reeves hitting YOUR wallet at the Budget? National insurance, capital gains and inheritance all in the crosshairs as 'tax bomb' looms
1 month, 3 weeks ago

What are the chances of Rachel Reeves hitting YOUR wallet at the Budget? National insurance, capital gains and inheritance all in the crosshairs as 'tax bomb' looms

Daily Mail  

Brits are bracing for grim news on Wednesday as Rachel Reeves mounts one of the biggest tax raids in history. Employer national insurance - 9/10 Rachel Reeves looks almost certain to increase employer NICs, despite claims it is a 'straightforward breach' of the Labour manifesto. Sir Keir and Ms Reeves are facing a pivotal moment in the Labour government at …

Tax Labour Pension Capital Gains Rate Reeves Rachel Reeves
Readers name their priorities for Rachel Reeves’ looming Labour budget
2 months ago

Readers name their priorities for Rachel Reeves’ looming Labour budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Foxicus ‘Wealth tax’ Reeves should equalise capital gains tax and …

Labour British Income Capital Gains Way Email Nhs
Capital Gains Tax hike will cripple investment, Peel Hunt boss warns as Budget anxiety grips the City
2 months ago

Capital Gains Tax hike will cripple investment, Peel Hunt boss warns as Budget anxiety grips the City

Daily Mail  

Steven Fine does not mince his words on the Budget – especially when it comes to capital gains tax. That is hardly what Britain needs if it is to encourage ‘risk taking and investment’ says Fine, chief executive of City broker Peel Hunt. ‘I’ve never known as much anticipation or expectation around the Budget probably in my career,’ says Fine, …

Market Tax Budget Fine British Capital Gains Tax City
Millionaires urge Reeves to raise £14bn from capital gains tax changes at Budget
2 months ago

Millionaires urge Reeves to raise £14bn from capital gains tax changes at Budget

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Rachel Reeves should …

Tax Budget Income Tax Capital Gains Tax Capital Rate Reeves