The FinTech Hub
Source: Live Mint Budget 2024 eliminated indexation advantages and rationalized capital gains tax on several products. With very few notable exceptions, we anticipate that this year’s budget will mainly continue in the same direction. As demonstrated by previous budgets, the administration will probably keep concentrating on fiscal consolidation. Union Budget 2025 wish list Streamlining the…
Source: Live Mint I will be adding unclaimed interest on my home loan to the cost of acquisition. Should I add indexed cost or absolute cost of unclaimed interest while calculating capital gain? – Name withheld on request Various high court and tribunal decisions have favoured allowing unclaimed home loan interest to be included in…
Source: Live Mint If you regularly invest in financial assets and have recently redeemed some of your investments, it is noteworthy that the profits earned on these gains are subject to capital gains tax. While we are in the run-up to the Budget 2025, it is worth recalling that the previous Budget, announced on July…
Source: Live Mint A Jodhpur bench of Income Tax Appellate Tribunal (ITAT) recently ordered that the gains on cryptocurrencies sold before 2022 will be treated as capital gains and not as income from other sources. This is believed to hold a lot of significance as the capital gains (both short and long term) on cryptocurrencies sold after April…
Source: Live Mint Understanding the MTF In an MTF arrangement, the broker essentially provides a loan to purchase securities. The investor pays an initial margin, a percentage of the transaction value, while the broker finances the remainder. The broker holds the units as security and charges interest. Taxability of MTF transaction gains The nature of…
Source: Live Mint With overheated markets, the challenge of balancing risk and returns has become more pronounced. For those seeking stability and inflation-beating growth, multi-asset allocation funds (MAAFs) may be a viable alternative to debt mutual funds or fixed deposits (FDs). MAAFs are structured to invest in a mix of asset classes—commonly equities, debt, and…
Source: Live Mint I want to send money to my son in the US under the Liberalised Remittance Scheme (LRS). I understand that tax collected at source (TCS) has to be paid on each transaction. How can I reclaim this amount? —Name withheld on request It is assumed that you qualify as a resident in…
Source: Live Mint If you are an active investor and often earn gains on the sale of your securities, bonds or mutual funds, you should be mindful of the tax rate that applies on these transactions. The gains accruing on the sale of assets is taxed under what is known as capital gains tax regime….
Source: Live Mint Is it true that non-resident Indians (NRIs) can no longer avail of the indexation benefit, while residents still can?—Name withheld on request Vide The Finance (No. 2) Act, 2024, there have been significant revisions to the scheme of taxation for capital gains. Taxpayers can continue to use the fair market value as…
