Cost Inflation Index : Indexation is a process by which Cost of acquisition is adjusted against inflationary rise. Every year Govt notifies Cost Inflation Index which is used for calculating Long term capital gains. When investor sells its property then CII index is used to determine current indexed value. Govt have recently notified CII for…
Which Transactions Are Reported To Income Tax Authorities Through A.I.R:
A.I.R. – Annual Information Returns needs to be furnished by Banks,person authorized by RBI,shares / debenture issuing companies,Registrar or sub-registrar office,Mutual funds – in respect of specified high value transactions registered by them in financial year. Specified high value transactions are as follows: Cash deposits aggregating Rs. 10 Lakh or more : Bank need to…
BUDGET 2016 & Impact On EPF,PPF,NPS,Gold Bonds:
Finance Minister of India presented union budget 2016 today and have some positive or negative implications for investors.We have taken a view on impact of budget on some important financial instruments. Update on 08/03/2016 : Finance minister have announced withdrawal of budget proposal to tax EPF. No change in income tax slabs:There is no change…