Happy news – Government can soon give big relief to the common man from this tax

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Expectations of concession in other taxes, including long-term capital gains tax, have resurfaced. According to information received from sources to CNBC Awaaz, a decision may be taken soon.

new Delhi. The Central Government can make a big announcement to give relief to investors in this Coronavirus Covid19. According to the exclusive information received by CNBC-Awaaz, there was a discussion with Finance Minister Nirmala Sitharaman (Finance Minister of India) in a meeting with the regulator of the financial sector to help domestic investors of the stock market. According to information received from sources, SEBI has proposed different options to help domestic investors.

Also Read : Salaried employees! Know these important income tax filing rules

Discussion- occurred in meeting  the leadership of Finance Minister FSDC the Financial Stability and Development Council met to discuss these issues. Let me tell you that for a long time there has been a demand for concession in long term capital gains, STT.

According to sources, three issues related to the stock market arose in yesterday’s FSDC meeting. This includes market fluctuations, increasing domestic investment. However, Bad Bank’s proposal was not discussed in this meeting. According to sources, it was the general opinion in the meeting that the period of decline in the market is over, it is difficult to say right now.

The Finance Ministry estimates that 20-25 percent manufacturing activity has started in the country. It has not been decided yet on the sources’ monetary fiscal deficit monetization. At the same time, the Labor Ministry is collecting data on the issue of unemployment, soon a proposal will be prepared on this.

common man – Relief in the  present time, the money received from the sale of the property will not be invested in the property again in 3 years. So 30% capital gains tax has to be paid on profits. On the other hand if someone sells the property in 24 months, then he has to pay short term capital gains tax. After 24 months, there is a 20% long term capital gains tax.

You can buy a maximum of two houses from the capital gains from the sale of the house. But, the capital gains for claiming tax exemption should not exceed Rs 2 crore. This exemption can be availed only once in a lifetime. Long term capital gains tax

on shares – Domestic investors sell after holding the shares for one year, then they have to pay 20% long term capital gains tax. The rate of this tax for NRIs is 10%.

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The post Happy news – Government can soon give big relief to the common man from this tax appeared first on informalnewz.



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