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SURCHARGE ON HNIS
How HNIs can save tax by choosing new tax regime while filing ITR for FY 2023-24 (AY 2024-25)The Union Budget 2023 reduced the maximum surcharge rate from 37% to 25% for taxpayers who choose the new tax system. This change lowered t...- View: Don't eat the rich, it'll hurt the restMany countries have attempted to tax the rich through these taxes without success. They fundamentally militate against simple economic logi...
- HNI investors: How the Budget impacts India’s richie richOne should expect heightened activity in the coming weeks to get the benefit of the lower tax rate on long term capital gains till March 20...
- Union Budget 2023: Consolidation exercise from FM; top 10 takeawaysRecent macro numbers including Core Infra, GST collections, IIP, Inflation etc show that the economy is on the path to accelerated growth. ...
- Highest surcharge on personal income tax reduced from 37% to 25%The highest surcharge levied under personal income tax has been reduced significantly from 37% to 25% in the new tax regime.
- Budget 2023: Win some, lose some for the richie richA lower surcharge of 25% (as against 37%), which would be applicable to those who opt for the new tax scheme, would reduce the tax to about...
- Boost to infra, agri investments and higher disposable income augurs well for FMCGThe decline in personal income tax slabs provides more disposable income in the hands of the consumers benefiting the consumer goods compan...
- Startup founders buy super luxury homes to cut LTCG taxLong-term capital gains from the transfer of equity shares (listed and non-listed) or from stake sales in a startup can be avoided under se...
- 15% cap on surcharge on LTCG will delight HNIs, property owners and start-up foundersThe surcharge on the LTCG tax from equity funds and listed stocks is already capped at 15%. But for gains from other assets, the surcharge ...
- Rich Indians leaving country: Government could look at increasing cut off days for residency“The constant flow of rich Indians moving to another country or taking up residency in another country can be a concern for India as it pla...
- Budget 2022 unlikely to change individual tax rates, give more tax deductions: EYTaxpayers expect that Budget 2022 will provide reduction in income tax rates and surcharges, increase in deduction available under section ...
- Book profits in Majesco and pay 10-15% tax to avoid dividend that will be taxed at slab rateIf shares were bought more than one year ago, the profit will be treated as long-term capital gains and get taxed at 10%. If the shares wer...
- Dividend or share buyback: What works better in terms of tax outgo?While dividend is the most common method, of late share buyback has also become a popular mode of distributing surplus to the shareholders.
- Measures to boost private investment and rekindle animal spirits: Rajiv Kumar, NITI AayogIf we simplify the tax system as has been promised, then a lot of anguish, a lot of angst will go away.
- Why investors should start booking profits in tax-free bondsHNI rush has led to a spike in bond prices, offering a lucrative selling opportunity to ordinary investors.
- Ultra-rich to pay almost half their income in tax; market unhappySitharaman said surcharge on taxable income of Rs 2-5 crore has been raised by 3 per cent.
- Tax exemption, Sec 80C limits, surcharge on HNIs may be hiked in Budget 2018: EYCurrently, a taxpayer can invest up to Rs 1.5 lakh in specified avenues under section 80C of the Income Tax Act to save tax.
- Budget 2016: Well-heeled and middle class put through the wringer as Modi Sarkar imposes a flurry of taxesThe Budget has spelt out all such buybacks in unlisted firms would attract a dividend distribution tax, which works out to 16.75%.
- Partha Sarathi Shome favours lower corporate tax rates"Lowering of corporate taxes will result in higher job growth and is more development oriented," Shome said.
- I-T returns may require disclosure of all assetsIn a bid to counter tax evasion, the Finance Ministry is contemplating making it mandatory for individuals to report Indian assets & liabil...
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