Which mutual funds help you save tax? An equity-linked savings scheme allows a Hindu Undivided Family or individual a deduction from the total income of up to ₹1.5 lakhs under Section 80C of the Income Tax Act. Thus, if an investor were to put in ₹50,000 into an ELSS scheme, this amount would be deducted …
One of the significant changes in the Union Budget 2018 was the introduction of tax on long term capital gains (LTCG) at the rate of 10% above the profit level of Rs.1 lakh per year. For example, if your long term capital gains for the year 2018-19 are Rs.145,000/- then your LTCG up to Rs.100,000 …
Overview The Centre can use a variety of steps to make COVID-19 vaccines and other critical supplies cheaper, including lower GST prices, zero GST on critical raw materials, allowing GST-free imports, and providing direct cash incentives to manufacturers. For domestic supplies and industrial imports, the Goods and Services Tax is currently levied at a rate …
As the joyous Diwali season approaches, the exchange of gifts is a cherished tradition. However, amidst the festivities, it’s essential to be aware of the tax implications of these generous gestures. Taxation of Diwali Gifts Diwali gifts, like any other monetary transaction, can have tax implications. According to experts, gifts received from relatives are fully …
India’s GST revenue collection for October 2023 has shattered records, marking the second-highest collection ever, closely trailing behind the historic collection in April 2023, with a staggering ₹1.72 lakh crore. This remarkable achievement demonstrates a substantial 13% year-on-year growth, signaling robust economic activity across the nation. A Year-on-Year Surge in Domestic Transactions Notably, revenue from …
The BSE Midcap and Smallcap indices in India are like scorecards for measuring the performance of medium-sized and smaller companies in the stock market. The BSE Midcap Index follows 150 of the most significant medium-sized companies listed on the BSE, while the BSE Smallcap Index watches over 250 leading small-sized companies also listed on the …
On September 12th, an unforeseen disruption rattled the financial markets, leading to a rapid and unexpected drop in the broader indices, akin to a house of cards collapsing. The Nifty Small-cap index, in particular, witnessed a remarkable 4% decline. While investors typically handle gradual shifts in market trends more comfortably, abrupt and unanticipated changes like …
In the second quarter of the current fiscal year, the Central government’s collection of advance direct taxes from companies, LLPs, and individuals increased significantly by 24% compared to the previous year, reaching a total of Rs 2.38 trillion, according to data available up to Saturday. The growth was primarily driven by a substantial rise in …
The GST collection for the month of July amounted to Rs 1,65,105 crore reported by the Ministry of Finance, marking the fifth time since the introduction of the goods and services tax that it has surpassed the Rs 1.6 lakh crore mark. The revenue for July showed an 11% YoY increase compared to the GST …
The Association of Mutual Funds in India (AMFI) has pressed the government to enable debt-linked saving schemes for tax deductions, with the Union Budget only a month away. Tax-saving mutual funds are now equity plans. Here’s how the ELSS category as a whole has fared. Is it better to save money on taxes or to …
