this is a guest post by taxadda.com – please consult a CA before you file your returns, I am not vouching for the accuracy. thanks. Capital Gain on share market (Including futures and options) Share market consists of trading in cash market i.e shares and also in futures and options. For long term investment, a […]
If I did not know how the government works (no even now I do not, but some readers may think I know), I would have believed that the brokers association has done a good lobbying job. That does not seem to be the case. However the RGESS (Rajiv Gandhi Equity Saving Scheme) is likely […]
I hate reading ‘draft proposals’ – and this hatred came from the student days hangover. When we were studying for the CA exam we had to know the ‘ACT’ and the changes that were made in the 6 months before the exam. Now if we read the ‘draft provisions’ there was a chance that we […]
The Central Government have specified bonds to be issued by (i) Industrial Finance Corporation of India;( IFCI ) (ii) Life Insurance Corporation of India; (L I C) (iii) Infrastructure Development Finance Company Limited; and ( I D F C) (iv) a Non-Banking Finance Company classified as an infrastructure finance company by the Reserve Bank of […]
All insurance plans will become taxable – this is terrible news for life insurance policy holders. How capital gains will be calculated will be a major issue. The cap gains calculation will have to be done by the life insurance company – after all they know all the transactions. So software guys enjoy..all life insurance […]
Most people I know pay taxes and also file tax returns. However to say that they file taxes honestly is a little difficult to say. As a social psychologist if you do analyze why people do not pay taxes, the following seem to be the reasons: a. Does not seem reasonable: Why should I pay […]
Indian elite (with whom I deal) is an amazing lot. I frankly do not know about people in other countries, so let me speak for Indians alone. We like to complain about – poor service of trains, poor roads, corruption, high taxation, poor policing, poor state machinery, pathetic infrastrucutre in general, fall in the education […]