Posted On:  2 weeks ago


Why people don’t grow rich by investing in stocks?

A lot has been said and written about generating wealth by investing for the long term in equity markets. The mutual fund industry in India now boasts of monthly collections through Systematic Investment Plans (SIPs) of over Rs 6,000 crore – a bulk of these investments are by retail investors who plan to get rich by investing in the equity markets for years. Will these investors really achieve their goal of creating wealth for themselves in the long run?

article author CA Chirag Chauhan

Posted On:  2 weeks ago


Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in 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.

article author CA Chirag Chauhan

Posted On:  2 weeks ago


Should you hold or Sell Equity Shares and Mutual Fund before 31 March 2018 to save LTCG?

The exemption of LTCG will continue till 31 March 2018. LTCG Tax of 10% will be applicable from 1 April 2018. A new section 112A is introduced into the Income-tax Act, 1961 to tax the long term capital gains on the listed shares and units of equity oriented mutual funds transferred on or after 1st April, 2018

article author CA Chirag Chauhan

Posted On:  2 weeks ago


How to calculate Long Term Capital Gain Tax on Equity Shares and Mutual Fund from 1st April 2018

The Long Term Capital Gain Tax on Shares and Equity oriented Mutual Funds were exempt since 2004. The government has introduce Securities Transaction Tax from 2004, to simply the tax regime, and introduce section 10(38) to provide exemption to long term capital gains on transfer of shares listed on a recognised stock exchange (BSE & NSE) provided STT was paid on them. Short term capital gains on such a transfer would be taxed @ 15%. The Budget 2018 has proposed to tax Long Term Gains on Equity Shares and Mutual Funds without withdraw of securities transaction tax (STT), which was introduced as an alternative to LTCG tax.

article author CA Chirag Chauhan

Posted On:  2 weeks ago


Download the Budget Memorandum 2018 for Financial Year 2018-19

The provisions of Finance Bill, 2018 relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as 'the Act') to continue to provide momentum to the buoyancy in direct taxes through deepening and widening of the tax base, reducing the corporate tax rate for micro, small and medium enterprises, promoting horizontal equity in personal income-tax and enhancing the effectiveness, transparency and accountability of the tax administration. With a view to achieving the above, the various proposals for amendments are organised under the following heads

article author CA Chirag Chauhan

Posted On:  3 weeks ago


100 Key Highlights of Union Budget 2018 presented by FM Arun Jaitely FY 2018-19

No changes in person tax structure for salaried class and No change in Slab Rates 1.44 lakhs crores paid by salaried tax payers.  Standard deduction of Rs 40,000 for salaried taxpayers, in lieu of transport and medical reimbursements for salaried classes Govt will have a scheme to give every enterprise in India a unique ID

article author CA Chirag Chauhan

Posted On:  3 months ago


Which mutual fund NFO you should invest?

There are three new Mutual Fund Launch of NFO in November 2017. The Stock markets has generated a return of over 30% in last one year time. Most of the mutual fund has performed well. The biggest question is should you invest in Mutual fund now? The probable answer is yes, provided you can hold on till 3 to 5 years.

article author One Roof Consultant

Posted On:  12 months ago


Why should you invest in ELSS for 80C and RBI bond before March?

After demonetization, the only asset class which seems to be giving positive double digit returns is equity. The real estate investment has given zero return in last 4 years. With government capping tax exemption on interest on second property, investing in real estate may not give return in coming years. Investment in fixed deposit is meaning less as it gives negative return considering high inflation and if you include taxes it becomes even worst.

article author CA Chirag Chauhan

Posted On:  1 year ago


Employee’s Stock Options NRI’s

The benefit or right to purchase, or to subscribe for, the shares of the company at a future date at a pre- determined price is an option offered to the directors, officers or employees of a company or of its holding company or joint venture or wholly owned overseas subsidiary/ subsidiaries, if any, this option so given is termed as ESOP.  Employees Stock Option Plan is a plan through which a company rewards Stock Options to its employees based on their performances. Under an ESOP, the employees have a right to buy the shares of the company on a predetermined date at a predetermined price.

article author CA Chirag Chauhan

Posted On:  1 year ago


How to avoid clubbing of minor child income with parents

Firstly, to start with what does clubbing of income really mean? Generally a person is liable to pay tax on his/ her earnings only. But under certain circumstances inclusion i.e., clubbing of other persons income is done in the assessee’ s income and thereby he will be liable to pay tax of his income as well as income of that other person too whose income is so clubbed. This inclusion of other person’s income in the assessee‘s income is termed as “Clubbing of income”.

article author CA Chirag Chauhan

Posted On:  2 years ago


All about Capital Gains

The Article Discusses about Tax Treatment of Long Term Capital Gain arising from Transfer of Capital Assets under Income Tax Act, 1961. Articles  discusses Meaning of Capital Assets, What Constitutes a Capital and what is not a capital Asset, How to Apply Indexation Provisions, Period for Computation of Long Term Capital Asset, Tax on long-term capital gain normally @ 20% but in certain special cases @10%, Adjustment of LTCG against the basic exemption limit and Deductions under sections 80C to 80U and LTCG.

article author Ashish Srivastava

Posted On:  2 years ago


Income Tax Return Forms

A brief Summary of Types of Forms used for Filing Income Tax Return.

article author CA MANISH BINDAL

Posted On:  2 years ago


Cost Inflation Index as per Income Tax

Cost Inflation Index (CII) is necessary for computation of long term capital gains in case of sale of capital asset as per Income Tax Act. It comes under Section 48 of the Income-Tax Act.

article author CA Chirag Chauhan

Posted On:  2 years ago


Issue of taxability of surplus on sale of shares and securities – Capital Gains or Business Income – Instructions in order to reduce litigation – Circular No.6/2016

Issue of taxability of surplus on sale of shares and securities – Capital Gains or Business Income – Instructions in order to reduce litigation – Circular No.6/2016

article author CA Chirag Chauhan

Posted On:  2 years ago


Union Budget 2016-17 - An Analysis

Dear Reader, The Finance Minister in his Budget presented to the Parliament today has aimed at giving fillip to growth and promoting the new age industries. Please find enclosed herewith our Tax Bulletin analyzing the direct tax proposals as stated in the Budget. Trust you will find it an interesting read.

article author Vispi T. Patel

Posted On:  2 years ago


100 Key Highlights of Union Budget 2016 presented by Arun Jaitely

Union Budget is presented by Arun Jaitely Today. Following are the Key Changes in The Budget from the Finance Minister Speech

article author CA Chirag Chauhan

Posted On:  2 years ago


Section 14A read with Rule 8D

Very Impressive analysis as said by many other chartered accountant and tax professional;

article author Vikas Ranjan

Posted On:  2 years ago


Capital Gains Meaning, Calculation of Long Term Short Term Capital Gains, Gift and Exemption from Capital Gains

Know basics of Capital gains as per income tax act, 1961, This article addressees what is capital asset and capital gain as per income tax act, 1961.

article author CA Chirag Chauhan

Posted On:  2 years ago


Eleven types of Income on Which You Don't Have to Pay Taxes in india

There are certain incomes that are exempt from income tax. If you get your income from these sources, your tax liability will be zero.

article author CA Chirag Chauhan

Posted On:  2 years ago


How to save long term capital gain on sale of property-deductions u/s 54 of income tax act

At the time of sale of any Long term Capital Asset, the gain is taxed at a steep rate of flat 20%. In order to save up on those taxes, the act has given us an option of claiming exemptions from paying such Capital Gains if the tax payer reinvests the amount in certain specified forms of Investment and thereby save up on Long Term Capital Gain Tax.

article author ROHIT SHARMA