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Taxation - Angel One

Planning to Redeem Funds and Buy a House? Learn About this Section for Taxation Relief

15 March 2024

All investors, across the entire planet, seek to earn profits from their investments. Profit may be virtual or actual gains. Virtual profit refers to the unrealised gains accrued from investments that haven’t been sold or redeemed, whereas booked profit is realised through closing a position. Profit attracts taxation irrespective of whether one resides in India …

India’s direct tax collections hit record high – Numbers don’t lie

24 January 2024

In a recent revelation by the Central Board of Direct Taxes (CBDT), India’s direct tax-to-GDP ratio hit an unprecedented high of 6.11% at the end of the fiscal year 2023 (FY23). This milestone, accompanied by a significant drop in collection costs, reflects a remarkable feat for the nation’s fiscal landscape. Setting Records Straight The direct …

Diwali gifts and taxation: Unwrapping the legal insights

8 November 2023

As the joyous Diwali season approaches, the exchange of gifts is a cherished tradition. However, amidst the festivities, it’s essential to be aware of the tax implications of these generous gestures.  Taxation of Diwali Gifts  Diwali gifts, like any other monetary transaction, can have tax implications. According to experts, gifts received from relatives are fully …

GST Collection in October 2023: The Second Highest on Record!

2 November 2023

India’s GST revenue collection for October 2023 has shattered records, marking the second-highest collection ever, closely trailing behind the historic collection in April 2023, with a staggering ₹1.72 lakh crore. This remarkable achievement demonstrates a substantial 13% year-on-year growth, signaling robust economic activity across the nation. A Year-on-Year Surge in Domestic Transactions Notably, revenue from …

Top 10 mid-cap and small-cap stocks under Rs 100 on BSE

20 September 2023

The BSE Midcap and Smallcap indices in India are like scorecards for measuring the performance of medium-sized and smaller companies in the stock market. The BSE Midcap Index follows 150 of the most significant medium-sized companies listed on the BSE, while the BSE Smallcap Index watches over 250 leading small-sized companies also listed on the …

How does the small-cap index respond to a sudden and substantial one-day decline? An interesting dataset to ponder

20 September 2023

On September 12th, an unforeseen disruption rattled the financial markets, leading to a rapid and unexpected drop in the broader indices, akin to a house of cards collapsing. The Nifty Small-cap index, in particular, witnessed a remarkable 4% decline. While investors typically handle gradual shifts in market trends more comfortably, abrupt and unanticipated changes like …

India’s Advance Tax Collections Skyrocket by 24% in Q2 FY24 to Rs 2.38 Trillion

18 September 2023

In the second quarter of the current fiscal year, the Central government’s collection of advance direct taxes from companies, LLPs, and individuals increased significantly by 24% compared to the previous year, reaching a total of Rs 2.38 trillion, according to data available up to Saturday.   The growth was primarily driven by a substantial rise in …

GST Collection in July 2023: Collection rises 11% YoY to Rs 1.65 lakh Cr

1 August 2023

The GST collection for the month of July amounted to Rs 1,65,105 crore reported by the Ministry of Finance, marking the fifth time since the introduction of the goods and services tax that it has surpassed the Rs 1.6 lakh crore mark. The revenue for July showed an 11% YoY increase compared to the GST …

GST completes 6 years: Collection crosses Rs 1.6 lakh crore in June 2023

3 July 2023

The Goods and Services Tax (GST) in India has completed six years since its inception on June 30, 2023. India’s indirect tax system has witnessed significant transformations since the introduction of the Goods and Services Tax six years ago. By consolidating various taxes like excise duty, service tax, and state-specific VAT, the GST has established …

Income Tax Slab for FY 2022–23

16 January 2023

With income comes tax. Whether you are salaried or self-employed, when your income exceeds a certain threshold, you must pay Income Tax. The threshold or limits are known as ‘tax slabs and are revised by the Government of India every year. The taxes collected help with the funding of government welfare schemes and other public …

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