Capital Gains Tax News
Turning housing loan interest into cost of acquisition during property sale
From April 2023, the law clarifies that any interest claimed as a deduction under house property income cannot be included in the cost of acquisition. However, unclaimed housing loan interest can still help reduce capital gains liability during property sales. Here’s how.
3 min read4 Jan 2025What are the tax implications on gifted shares?
Where a person receives any movable property worth less than ₹50,000 from another for no consideration, it is taxable as ‘income from other sources’, with certain exceptions. However, this does not apply to property received from specified relatives.
2 min read15 Dec 2024Starmer Says There’s No Reason for Entrepreneurs to Leave UK
Prime Minister Keir Starmer said there’s “no reason” for entrepreneurs to leave the UK, even as Chancellor of the Exchequer Rachel Reeves studies proposals to raise taxes on the wealthy, property, inheritance and pensions in her budget next week.
4 min read24 Oct 2024NRI taxation: Can benefit from reinvesting real estate capital gains?
You can still claim an exemption from tax on capital gains under section 54 if you reinvest the capital gains into a new residential property, either by way of a purchase or construction.
2 min read21 Oct 2024Reeves Urged to Ignore Warnings and Raise £15 Billion From Rich
UK Chancellor Rachel Reeves could raise £15 billion ($20 billion) a year from the wealthiest Britons by targeting capital gains and inheritance without triggering an exodus of millionaires, according to two think tank reports.
3 min read17 Oct 2024Starmer Tries to Reclaim ‘Wealth Creator’ Mantle Ahead of Budget
Prime Minister Keir Starmer used a glitzy London investment summit to proclaim growth and wealth creation the cornerstones of his government, seeking to draw a line under a rocky first three months in power that saw his negative rhetoric about the state of the public finances weigh on economic sentiment.
5 min read16 Oct 2024Starmer Tries to Reclaim ‘Wealth Creator’ Mantle Ahead of Budget
Prime Minister Keir Starmer used a glitzy London investment summit to proclaim growth and wealth creation the cornerstones of his government, seeking to draw a line under a rocky first three months in power that saw his negative rhetoric about the state of the public finances weigh on economic sentiment.
5 min read15 Oct 2024UK Can Tax Wealthy to Close £20 Billion Fiscal Gap, Report Says
UK Chancellor of the Exchequer Rachel Reeves could push through over £20 billion ($26 billion) of tax hikes at the upcoming budget without breaking any election pledges by targeting inheritances and capital gains, according to the Resolution Foundation.
3 min read10 Sep 2024Mint Explainer: Why Tiger Global’s win against the taxman is a major victory for Indian companies
The Delhi High Court’s decision to overturn the tax authority’s demands in the Tiger Global case relating to the firm’s sale of Flipkart shares to Walmart is expected to help establish India as an attractive investment destination, both for startups and mature enterprises.
4 min read29 Aug 2024How to adjust your financial life after LTCG tax hike to 12.5%?
While we would love to go back to the pre-2018 days of 0% tax or at least remain in the 2018-24 era of 10% tax, there is not much we can do.
4 min read27 Aug 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared