Category: Tax Planning

Latest Cost of Inflation Index March 2014 & Double indexation benefits.

Cost of Inflation Index upto FY 2013-14. (The year mentioned is financial year(FY)  The cost of inflation index is useful for income-tax assesses in the computation of tax on long-term capital gains (for indexation purposes). In the previous two years, the cost inflation index rose 10 per cent and 12.5 per cent, respectively. A cost inflation index helps reduce the […]

Continue Reading

What is Wealth Tax?

There may be liberty and justice for all, but there are tax breaks only for some. ~ Martin Sullivan A majority of the tax payers in India are ignorant about the wealth tax, and it’s implications. Wealth tax is a good potential annual recurring income stream for the government. However, it is perplexing why the […]

Continue Reading

Increase in Dividend Distribution Tax from June 01 2013 in Debt Mutual Funds – Impact

. In the FY14 Budget the Finance Minister has proposed to increase the Dividend Distribution Tax (DDT) on Debt Mutual Funds (other than liquid and money market funds on which the DDT was already 25%) from 12.5% to 25% (plus surcharge and cess) for individuals and HUFs. The hike is proposed to provide uniform taxation for […]

Continue Reading