Capital gains tax News

These government-backed bonds, available from REC, NHAI, PFC, and IRFC, let you invest up to Rs 50 lakh within six months of the sale and get a full exemption on your LTCG tax, which could otherwise cost you over Rs 6.5 lakh.  

Major changes regarding taxation on capital gains were announced by Finance Minister Nirmala Sitharaman in Union Budget 2024. Here's all about them.

Dividends received from all mutual funds are tax-free in the hands of the investors.

Finance Minister may think of putting some concessional rate on the long-term capital gains but maybe an exception could be made for small investors.

The government has exempted genuine equity investments through IPOs, bonus or rights issues by a listed company from long-term capital gains tax even if no securities transaction tax (STT) was paid on the transfers.

Finance Minister Arun Jaitley on Saturday refuted media reports that the government could introduce long term capital gains tax in the upcoming Union Budget in February.

India has notified the revised double tax avoidance agreement with South Korea under which capital gains tax will be levied at the source with effect from April 1, 2017.

India will have to renegotiate the tax treaty with Singapore to extend the capital gains tax provisions of the recently-concluded tax pact with Mauritius, Finance Minister Arun Jaitley said on Monday.  

The reworked India-Mauritius tax treaty has kept out derivatives and non-share securities like debentures from levy of capital gains tax in India as these are to be taxed only in host country, Mauritius.

A day after the revision of bilateral tax treaty with Mauritius, Finance Ministry on Wednesday said GAAR provisions, which are to take effect from April next year, will override the DTAA provisions in case they are abused.  

British telecom major Vodafone has approached the Indian government for a conciliation in its Rs 20,000-crore tax dispute.

The Bombay Stock Exchange (BSE) Thursday called for ending exemption of capital gains tax on securities to contain various entities using capital markets to evade taxes and launder money.

The mutual fund industry may witness several mergers of schemes in coming weeks after the Budget proposed an exemption from capital gains tax in case of amalgamation of funds with similar features.

The Finance Ministry is examining to tweak the Budget proposal for hiking capital gains tax to 20 percent for debt mutual funds following representation from the industry, Economic Affairs Secretary Arvind Mayaram said on Wednesday.

Finance Ministry is contemplating to tweak the Budget proposal for hiking capital gains tax to 20 percent for debt mutual fund investors from prospective effect instead of April 1, 2014.