Budget - Page 2

LTCG as per Finance Bill 2018

Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt from income-tax under clause (38) of section 10 of the Act....

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Posted Under: Income Tax |

Taxability of Long Term Capital Gain on Listed Equity Shares, Units of Mutual Fund (Proposed Provision of Union Budget 2018 )

As per the present provision of Section 10(38) of Income Tax Act, the Long Term Capital Gains arising on transfer of Equity Shares or Units of Equity Oriented Funds or units of business trusts are exempt....

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Posted Under: Income Tax |

Budget 2018 – Goodies to allure corporate sector

Budget 2018 could have led to a recent stock market rally of the investors to protect tax on long term capital gains, albeit it is benevolent foremost to the rural agrarian sector, followed by corporate sector with 25% corporate tax rate for financial year 2018-19 (applicable to the domestic companies having annual turnover below Rs. 250 ...

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Posted Under: Income Tax |

Views on reintroduced tax on long-term capital gains and issues arising therefrom

Many months before the presentation of the Union Budget 2018 on 1 February 2018, newspaper reports had predicted the possibility of re-introduction of tax on long-term capital gains arising from transfer of listed equity shares / units of equity oriented mutual funds / units of business trust (specified assets)....

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Posted Under: Income Tax |

Taxing conversion of stock into capital asset: A re-look needed?

Capital assets and inventory are treated differently for the purpose of taxation and are governed by distinct provisions. As a result, classification of assets has often been a subject matter of challenge by the tax authorities. So also, a change in this classification by the taxpayer....

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Posted Under: Income Tax

Gains made on sale of shares now taxable

As per the proposed amendment and insertion of new section 112A of the Income-tax Act, 1961, long-term capital gains made on sale of equity shares or equity-oriented unit to be taxable at the rate of 10% with effect from 1 April 2018....

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Posted Under: Income Tax |

Detailed analysis of new taxation regime of LTCG proposed in Finance Bill 2018

While Finance Bill, 2018 introduced a new tax regime for taxation of on long term capital gain on specified class of asset, there has been a lot of confusion regarding applicability, tax ability and calculation of the same. Here in this article, I have tried to clarify the same along with the illustration....

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Posted Under: Income Tax |

Indian Union Budget– 2018 An Analysis of Income Tax Proposals

Income Tax slabs and rate of surcharge are not changed, but cess (additional surcharge) rate is increased from 3% to 4% which is obviously payable on aggregate of income-tax and surcharge. Now only single cess @ 4% called Health and Education Cess is there....

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Posted Under: Income Tax | ,

Taxation of Long Term Capital Gain (LTCG) on Listed Equity Shares

Taxation of Long Term Capital Gain (LTCG) on Listed Equity Shares (considering the amendments made through Budget 2017 & proposed in Budget 2018)...

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Posted Under: Income Tax |

VTPA and DAA: Union Budget 2018-19 Tax Proposals

In the first budget since the end of demonetization and GST went online, the Finance Minister has again provided a thrust to the rural and agrarian economy, with the hope that it may stimulate growth. Please find enclosed herewith the Tax Bulletin analyzing the direct and indirect tax proposals as stated in the Budget....

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Posted Under: Income Tax |
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