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How do the changes in tax in Union budget 2014 affect debt/FMP\'s??

By Gaurav | Today

Suppose you had taken up a debt fund in May 2013 which matures after a year in May 2014. Previously this was a long term capital gain taxed at 10.3% without indexation and 20.6% with indexation. Now you have to hold the debt fund for 3 years for the gains to be classified as long term capital gains. These gains are then taxed at 20.6% with indexation .You can no longer avail capital gains taxed at 10.3% without indexation as this has been scrapped. If the debt fund matures after April 1st 2014 and is held for more than a year but less than 3 years the profit you get is now a short term capital gain as long term gains are classified as 3 years.If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | Today

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What are real estate investment trusts??

By Sumith | Today

REIT functions in a similar way to a mutual fund except that they invest in profitable real estate and commercial properties.The Company invests in income producing real estate and proceeds of the real estate both on sale or rental proceeds are distributed to the investors based on the proportions of units held.If you want to learn more about real estate please look up the website IndianMoney.com. This is India\'s only free on call money adviser.

Answer by Research Team - IndianMoney.com | Today

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What is Section 80 U??

By Arnab S | 3 days ago

You can avail a deduction of INR 50000 if you suffer from a disability such as blindness or a mental disability. If your disability is severe a deduction of INR 1 Lakh is available. If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | 3 days ago

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What is Rajiv Gandhi Equity Scheme??

By Yathish | 6 days ago

If you have a gross total income which does not exceed INR 12 Lakhs (Effective 1st April 2013) you can invest a maximum amount of INR 50000 with Tax benefit deductions under u/s 80 CCG .One can claim only 50% deduction on the amount invested (INR 25000). If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | 6 days ago

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What is Section 80 TTA??

By Uday | 7 days ago

Section 80 TTA: A new amendment was brought into picture on 1st April 2012 and a deduction of INR 10,000 was allowed as per Section 80 TTA of the income tax act. The interest you earn on your savings bank account, Co-operative bank as well as a post office is eligible for a deduction of INR 10000 under this Section .No deduction on interest on a fixed deposit and a recurring deposit. If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | 7 days ago

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What is Section 80 DD??

By Naresh | 8 days ago

A deduction of INR 50,000 can be availed on the medical treatment which includes nursing and rehabilitation of your handicapped dependent relative .If the relative is severely handicapped including blindness and mental retardation the deduction translates to an amount of INR 1 Lakh. A disability of over 80% is considered to be severe. If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | 8 days ago

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What are the changes in the EPS??

By Dikshith | 9 days ago

Minimum pension limit under employees pension scheme (EPS) set at INR 1000 per month. Mandatory wage ceiling for subscription to EPS (Employee Pension Scheme) raised from INR 6500 to INR 15000.This widens the number of people under the EPS as more salaried class people come under the EPS. EPF rates expected to go to 9%. If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | 9 days ago

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What are the new rules regarding Dividend Distribution Tax??

By Amrish | 10 days ago

The 15 % Dividend Distribution Tax will continue to be levied on companies. If the dividend was 100, the companies were deducting 15 and then on the remaining 85 they were calculating the dividend distribution tax. Now the dividend distribution tax will be paid on 100. If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | 10 days ago

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What changes in the Union Budget affect Fixed maturity plans??

By Suraj | 12 days ago

Tax-break for long-term capital gains (LTCG) now after three years and not after one year. Initially LTCG for these instruments was 1 year but now it is 3 years. Rate of tax has increased from 10 percent to 20 percent for these long-term capital gains. This affects FMP (Fixed maturity plans) a type of debt mutual fund which loses its competitive edge on taxation to fixed deposits . If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | 12 days ago

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What are the Interest exemptions on housing loans on self occupied property (Section 24 b) under the Union Budget 2014-15??

By Dinesh | 12 days ago

Interest exemptions on housing loans on self occupied property (Section 24 b): Exemption on housing loans interest on self-occupied property has been increased from INR 1.5 lakhs to INR 2 lakhs under Union Budget 2014-15. If you want to learn more about Tax planning please look up the website IndianMoney.com. This is Indias only free on call money adviser.

Answer by Research Team - IndianMoney.com | 12 days ago

InFinancial Planning | More Answers (1) | Answer This Question | 133 views

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