The government has finally done what the market feared. Long-term capital gains (LTCG) has been imposed on equity markets. The logic behind doing this was a large portion of the investment in the market was done by corporates and LLP entities. In the Budget speech, finance minister Arun Jaitley said that the total amount of exempted capital gains from listed shares and units is around Rs 3,67,000 crore for the assessment year 2017-18.For an investor, the LTCG would mean that any investment sold after holding it for more than one year will now be taxed at a rate of 10 percent without giving any indexation benefits.This means that the profit generated by purchasing any stock held for more than a year will be taxed at 10 percent, provided the profit is more than Rs 1 lakh.Close Say for example an investment made on February 1 2018 for say Rs 500 and sold on or after February 1 2018 at a price higher than Rs 500 will be taxed. If the investment is sold at Rs 600, the profit generated is Rs … [Read more...] about LTCG on equities explained: How the 10% tax will impact your portfolio
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The income tax department has carried out search operations on certain share-brokers and traders for allegedly executing fraudulent trades in illiquid stock options.Over 39 locations spread across Mumbai, Kolkata, Kanpur, Delhi, Noida, Gurugram, Hyderabad and Ghaziabad were covered under the operation, the department said in a statement on December 7.These brokers were involved in facilitating accommodation of profits/loss through reversal trades in illiquid stock options in equity derivative segment and also currency derivative on the BSE, it said.Close The search or survey action has unravelled the entire modus-operandi which has been adopted by the share-brokers and traders to trade into the illiquid stock options in equity derivative segment and thereby generate artificial losses or profit by executing reversal trades in a very short span of time. related news 63.36% votes cast in second phase of polling in Jharkhand Nirbhaya convict writes to Prez, seeks withdrawal of … [Read more...] about Income tax dept conducts search ops on stock brokers, traders across country
America’s housing crisis reaches across income levels and geography, but the further one goes down the socioeconomic ladder, the more dire it becomes: Currently, the U.S. is short 7.2 million homes for the 11 million residents living on very low incomes. The affordable rental market is so constrained that 71% of low-income families spend over half their income on rent. Absent any meaningful federal investment in affordable housing in the last few decades, local governments, nonprofits, and in some cases, private companies, have tried to step up, but still, the affordable housing gap persists. advertisement advertisement The solution to this crisis–like many of America’s crises–is more and better funding toward affordable housing construction and preservation, but to date, leaders have lacked the political will to demand it, says Diane Yentel, president and CEO of the National Low Income Housing Coalition. Senator Elizabeth Warren of Massachusetts … [Read more...] about Elizabeth Warren has a plan to help end the housing crisis
India is participating with a constructive outlook at the Madrid climate talks and will work to protect its long-term development interests, Union Environment Minister Prakash Javadekar said on December 7.Before leaving for the UN-hosted climate negotiations in the Spanish city, Javadekar enumerated India's efforts in mitigating the effects of climate change and said the country "is leading from the front in climate action"."PM was the first to propose Solar Alliance and Coalition for Disaster Resilient Infrastructure," he said. "India's ambitious renewable energy programme of 450 GW has attracted world attention as it is the largest renewable programme in the world."Close Javadekar said India has reduced its emission intensity by 22 per cent over 2005 and it is one of the few countries which had increased tree cover in and outside the forest. related news Rights of locals will be protected to maximum limits: J-K BJP AP govt cancels Rs 3.10-crore work on CM's residences On … [Read more...] about Climate talks: Javadekar says India will work to protect its long-term development interests
After a rigorous struggle and a long wait, the Supreme Court of India decriminalised gay sex in a landmark verdict on September 6. What followed was shared rejoicing by activists, the film fraternity and politicians.However, the Bharatiya Janata Party (BJP) has maintained an eerie silence over the issue. At a time when the Indian as well as international media are celebrating the historic verdict, with congratulatory messages flooding social media platforms, the BJP is tightlipped.The only exception has been BJP Rajya Sabha MP Subramanian Swamy, who told news channels that “homosexuality is a genetic flaw” and that "this verdict would give rise to issues like increase in gay bars and the number of HIV cases”. Stating that homosexuality cannot be treated like an alternate sexual behaviour, Swamy said, “There is no finality in the Supreme Court’s judgement today, and this can be overturned by a seven-judge bench." Swamy had earlier told the … [Read more...] about Why is the BJP silent on Supreme Court’s landmark verdict decriminalising gay sex?