Long Term Investment

Analysis of amendment in Section 10(38) by Finance Act, 2017 & Notification No. 43/2017

Income Tax - Finance Act, 2017 amended section 10(38) of the Income-tax Act, 1961 (the Act) stating that long term capital gains from transfer of listed equity shares acquired on or after 01 October, 2004, would be exempt from tax under section 10(38) of the Act only if the Securities transaction Tax (STT) was paid at the time of acquisition of such s...

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Sec 10(38), CBDT provides host of exemptions

Income Tax - This article summarises the amendment brought in Section 10(38) of the Income Tax Act, 1961, the exemptions provided under the section through notification issued by the central government and discusses few situations where exemption may not be available. ...

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Income from sale of shares is Business income or Capital gains

Income Tax - This article is for better understanding of Treatment of Income from Sales of shares or other securities. Here I am explaining about the possibilities one can treat the income from sale of shares and what are the benefits of it. The article also comprises the corresponding guidelines from CBDT which are self explanatory and fiercest....

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All you wanted to know about Mutual Fund Monthly Income Plans

Income Tax - Myths about MIP: Monthly Income Plans or MIPs seem like a good and wide umbrella which will protect the investors from the vagaries of the market weather. It is mostly PERCEIVED to be a risk-free product which will deliver regular incomes month after month in an un-interrupted manner while the original investment remains safe and sound....

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Invest Smartly: Bursting the myth of security associated with traditional investments

Income Tax - #JanoTohMano In contemporary times, the idea of security, which is associated with traditional investments, is obsolete. While they do provide a sense of security yet the question is - is it a smart move on your part to shy away from huge returns which you can easily earn by investing in mutual funds? Well that’s for you to decide....

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Expenditure related to exempt income to be disallowed even if assessee has not earned any tax-free income

Cheminvest Ltd. (ITAT Delhi) - Special Bench of the Income Tax Appellate Tribunal, New Delhi in the case of Cheminvest Ltd. (ITA Nos.87Del//2008, 4788/Del/2007 and 233/Ahd/ 2006) holds that expenditure relating to exempt income to be disallowed even if assessee has not earned any tax-free income....

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Disallowance u/s 14A is to be made even when exempt income is not earned or received during the year

Cheminvest Ltd. Vs ITO (ITAT Delhi) - Special Bench of the Income Tax Appellate Tribunal, New Delhi holds that expenditure relating to exempt income to be disallowed even if assessee has not earned any tax-free income....

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No capital Gain on Rollover/Extension of Fixed Maturity Plans (FMPs) in same scheme

Circular No. 6/2015-Income Tax - (09/04/2015) - CIRCULAR NO. 6/2015, Dated: April 9, 2015 no capital gains will arise at the time of exercise of the option in the case of Fixed Maturity Plans (FMPs) by the investor to continue in the same scheme. The capital gains will, however, arise at the time of redemption of the units or opting of the scheme...

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Recent Posts in "Long Term Investment"

Analysis of amendment in Section 10(38) by Finance Act, 2017 & Notification No. 43/2017

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Finance Act, 2017 amended section 10(38) of the Income-tax Act, 1961 (the Act) stating that long term capital gains from transfer of listed equity shares acquired on or after 01 October, 2004, would be exempt from tax under section 10(38) of the Act only if the Securities transaction Tax (STT) was paid at the time of acquisition of such s...

Read More
Posted Under: Income Tax |

Sec 10(38), CBDT provides host of exemptions

This article summarises the amendment brought in Section 10(38) of the Income Tax Act, 1961, the exemptions provided under the section through notification issued by the central government and discusses few situations where exemption may not be available. ...

Read More
Posted Under: Income Tax | ,

Income from sale of shares is Business income or Capital gains

This article is for better understanding of Treatment of Income from Sales of shares or other securities. Here I am explaining about the possibilities one can treat the income from sale of shares and what are the benefits of it. The article also comprises the corresponding guidelines from CBDT which are self explanatory and fiercest....

Read More
Posted Under: Income Tax |

All you wanted to know about Mutual Fund Monthly Income Plans

Myths about MIP: Monthly Income Plans or MIPs seem like a good and wide umbrella which will protect the investors from the vagaries of the market weather. It is mostly PERCEIVED to be a risk-free product which will deliver regular incomes month after month in an un-interrupted manner while the original investment remains safe and sound....

Read More
Posted Under: Income Tax |

Invest Smartly: Bursting the myth of security associated with traditional investments

#JanoTohMano In contemporary times, the idea of security, which is associated with traditional investments, is obsolete. While they do provide a sense of security yet the question is - is it a smart move on your part to shy away from huge returns which you can easily earn by investing in mutual funds? Well that’s for you to decide....

Read More
Posted Under: Income Tax |

No capital Gain on Rollover/Extension of Fixed Maturity Plans (FMPs) in same scheme

Circular No. 6/2015-Income Tax (09/04/2015)

CIRCULAR NO. 6/2015, Dated: April 9, 2015 no capital gains will arise at the time of exercise of the option in the case of Fixed Maturity Plans (FMPs) by the investor to continue in the same scheme. The capital gains will, however, arise at the time of redemption of the units or opting of the scheme, as the case may be....

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Investment Allowance under Section 32AC

A new section 32 AC has been inserted by the Finance Act,2013 to provide a tax incentive by way of investment allowance to encourage huge investment in plant or machinery. This is a new policy of the government which attract the attention of businessman in respect of investment in new plant and machinery. The deduction under section 32 AC...

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Posted Under: Income Tax |

LIC Jeevan Ankur – Plan to Meet educational & other needs of your child

LIC’s Jeevan Ankur is a conventional with profits plan, specially designed to meet the educational and other needs of your child. If you are the parent of a child aged upto 17 years, LIC’s Jeevan Ankur is the most suitable insurance plan for you which ensures that your responsibilities are met whether you survive or not and without de...

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Posted Under: Income Tax | ,

Implications of DTC on income from house property, capital gains and the new tax treatment of savings

Tax treatment of savings:-The DTC has proposed contributions up to Rs 3 lakh in a year (both by employer and employee) to any account maintained by a permitted savings intermediary be exempt from tax, and would remain untaxed if it remained in that account. Withdrawals are to be included in income from residuary sources, and taxed accordi...

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Posted Under: Income Tax |

Switch Your ULIP Equity Funds Now

ULIP’s are basically long term investment. But despite being Long Term in nature they are Return Maximizing tool. The return is maximized through the well known option provided itself in the ULIP product SWITCHES. Each Ulip comes with a Switch Option giving opportunity to the policy holder to manage his funds and maximize the Returns ov...

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Posted Under: Income Tax |
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