February, 2018 - Wealth18.com

In Budget 2018, Finance Minister Arun Jaitley has re-introduced the Long Term Capital Gains (LTCG) tax on Stocks / Shares. What has changed? Since 2001-2005, LTCG was exempt from tax. If the investor is selling stick after 1 year (long term) , then no tax is payable on the profits made from such investment . But now, the LTCG tax on shares has been re-introduced - Investors will have to pay 10% tax on profit exceeding Rs 1 lakh made from the sale of shares or equity mutual fund schemes held for over one year. This is applicable for shares as well as equity mutual fund scheme as well. For dividend mutual funds - Budget has also proposed 10% dividend distribution tax on dividend declared under Equity Schemes. Currently, DDT is not applicable for equity-oriented mutual funds...

Arun Jaitley presented the Budget for 2018-19 in Parliament on 1st Feb 2018. Following are the highlights of his speech: Income Tax No change in personal income tax slabs and rates; Surcharge of 10% on income above Rs 50 lakh but less than Rs 1 cr, 15% on income above Rs 1 cr to continue; Standard Deduction returns after a decade; Rs 40,000 to be allowed in lieu of transport allowance and medical expenses; Growth in direct taxes up to Jan 15, 2018 is 18.7%; Corporate tax reduced to 25% for firms with turnover of Rs 250 cr in 2016-17; Interest income exemption on deposits with banks and post offices for senior citizens increased from Rs 10,000 to Rs 50,000; Senior citizens will be able to claim benefit of deduction up to Rs 50,000 annually on health insurance premiu...

Month: February 2018

Budget 2018 : Long Term Capital Gains (LTCG) Tax – 10% on Shares, Equity Funds

Indian Union Budget 2018- 2019 – Highlights, Impact