Capital Gains Exemption Hike: FM Announces Rs 1.25 Lakh Limit
By Rediff Money Desk, New Delhi Jul 23, 2024 12:47
Finance Minister Nirmala Sitharaman proposes raising the capital gains exemption limit to Rs 1.25 lakh per year for certain financial assets, impacting middle and upper middle class. Read more about the budget announcement.
New Delhi, Jul 23 (PTI) Finance Minister Nirmala Sitharaman on Tuesday said the government plans to raise capital gains exemption limit on certain financial assets to Rs 1.25 lakh per year for middle and upper middle class.
Presenting the Budget for 2024-25, she announced a hike in STT (securities transaction tax) on F&O (futures and options) securities by 0.02 per cent and 0.1 per cent.
Income receipt on share buyback will be taxed in the hands of recipients, Sitharaman added.
To reduce tax litigation, the finance minister said the government is planning Vivad Se Vishwas Scheme 2024.
She also said Rs 10 lakh crore has been proposed for PM Awas Yojana - Urban 2.0 to address housing needs of 1 crore urban poor and middle class.
She also announced 12 new industrial parks to be developed under the National Industrial Corridor Development programme.
Presenting the Budget for 2024-25, she announced a hike in STT (securities transaction tax) on F&O (futures and options) securities by 0.02 per cent and 0.1 per cent.
Income receipt on share buyback will be taxed in the hands of recipients, Sitharaman added.
To reduce tax litigation, the finance minister said the government is planning Vivad Se Vishwas Scheme 2024.
She also said Rs 10 lakh crore has been proposed for PM Awas Yojana - Urban 2.0 to address housing needs of 1 crore urban poor and middle class.
She also announced 12 new industrial parks to be developed under the National Industrial Corridor Development programme.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.89 (+ 4.71)
- 288533467
- Vodafone Idea L
- 15.36 ( -3.34)
- 87370840
- YES Bank Ltd.
- 25.06 ( -2.38)
- 26733228
- Khoobsurat
- 1.63 (+ 4.49)
- 26568507
- NCL Research
- 0.95 (+ 4.40)
- 25526002
MORE NEWS
Cancer Drug Customs Duty Exemption in India...
India's 2024 budget proposes full customs duty exemption for 3 cancer drugs:...
Telecom Infra Stocks Plunge: Govt Hikes Import...
Telecom infrastructure stocks fell after India raised import duty on telecom equipment...
Bhu-Aadhaar for Rural Land, Urban Land Records...
India's Budget 2023 proposes 'Bhu-Aadhaar' for rural land parcels, digitization of...