what are thechanges in latest  indian budget regarding capital gains ?
398568
There are two changes \n1. Section 54 ED has been scrapped which provided that in case that the capital gains arising from transfer of long term capital asset, being listed securities or units of a mutual fund or of the Unit Trust of India shall be exempt from tax if invested in equity shares forming part of an eligible issue of capital, made by a public company, and offered for subscription to the public.\n2.Bonds issued by National Roadways or National Highways shall also be eligible for claiming exemption under Section 54 Ec of the I T Act
519232
few possible reasons -\n\n1) rising interest rates in america\n2) one silly notification from central board of direct taxes (CBDT)\n3) all asset classes in india are now over-valued, so the FIIs are moving money to other markets
561940
Since the budget of 2005, there are no taxes on LONG term capital gains. Long term is defined as 1 year or more. So, no capital gains tax if you invested more than a year back.
852934
Sales Tax is now called as VAT.\nPlease refer to VAT Schedule of the State concerned on the link below for rates\nhttp://www.allindiantaxes.com/vat.php
647864
First of all, it depends on when you inherited it and when you are selling it.\n\nYour "basis" in the property is what it was worth at the time of the death of the person you inherited it from.\n\nIf that was a while ago, the property may have increased in value.  If it was recently, or in an area not experiencing increased value since you inherited, it may be at or near the same value as your "basis" at the time of their death.\n\nThe difference between your "basis" and the current sales price of the property is called the "capital gain" and it is all that you will be taxed on.\n\nEXAMPLES  \n\nIf value @ death was $35,000.00 and you are selling for $35,000.00 - NO TAX (no gain because the basis is as same as the sales price)\n\nIf value @ death was $25,000.00 and you are selling for $35,000.00 - $10,000 Taxable Capital Gain\n\nAs for the tax rates, that is where my expertise pretty much ends.\n\nThere are Long Term Capital Gains and Short Term Capital Gains, and I do not know the length of time for each, nor whether or not there is a difference because the property was inherited and not purchased.  They are taxed at different rates, and those rates have nothing to do with your income level or any other particulars other than the time the capital asset (the property) was held by you. \n\nFor this you will need to speak to an accountant or tax advisor, but I hope you have a better understanding now of what questions to ask to get a complete answer from them.\n\nGood luck and take care.
434134
See, there are lots of issues which determine the taxability of capital gains under I T Act1961 .You have not given complete detail.\n    Presuming , its a residential property, then first the compuation has to be done by taking the Indexation method . Find out the date of purchase of the residential property and cost as on that date. If it was purchased before 1984, then market value as on 1.4.1984 has to be taken as cost and then indexation has to be applied.\n    This way, capital gains has to be computed. If there is capital gain is there, you have following option\n   1. Purchase /construct a residential house within two years of the amount equal to long term capital gain.\n   2. If you do not want to purchase immediately, but plan to purchase within   3 years, deposit the amount of capital gain in SBI or other bank in Capital Gain Account scheme , before filing return of income.\n  3. Under 5EC of the I T Act, there are capital assets in which if capital gains are invested for at least  three years, then the capital gain is exempt from taxation.\n\nHope your
1093205
Not on all capital gains.  There used to be an exemption related to someone selling their house if they were over 55, but that is no longer the case.  Now the exemption is available to most people if you meet the criteria, such as own your house for two years and other items.
608670
The present Income Tax Rates for Financial Year 2005-2006 ( A Y 2006-2007 ) are as follows -\n\nFor Individuals ( Women )\n\nIncome not exceeding Rs.1,35,000/-\n-- Nil\nIncome exceeding Rs.1,35,000/- but does not exceed Rs.1,50,000/-\n-- 10% of excess over Rs.1,35,000/-\nIncome exceeding Rs.1,50,000/- but does not exceed Rs.2,50,000/-\n-- Rs.1,500/- + 20% of excess over Rs.1,50,000/-\nIncome exceeding Rs.2,50,000/-\n-- Rs.21,500/- + 30% of excess over Rs.2,50,000/-\n\nIf Income exceed Rs.10,00,000/- Surcharge @10% of Income Tax\n\nEducation Cess @2% of Income Tax and Surcharge, if any\n\nFor Individuals ( Senior Ceitizan-Attains 65 years )\n\nIncome not exceeding Rs.1,80,000/-\n-- Nil\nIncome exceeding Rs.1,80,000/- but does not exceed Rs.2,50,000/-\n-- 20% of excess over Rs.1,80,000/-\nIncome exceeding Rs.2,50,000/-\n-- Rs.14,000/- + 30% of excess over Rs.2,50,000/-\n\nIf Income exceed Rs.10,00,000/- Surcharge @10% of Income Tax\n\nEducation Cess @2% of Income Tax and Surcharge, if any\n\nFor Individuals ( Others ) / HUF / AOP / BOI\n\nIncome not exceeding Rs.1,00,000/-\n-- Nil\nIncome exceeding Rs.1,00,000/- but does not exceed Rs.1,50,000/-\n-- 10% of excess over Rs.1,00,000/-\nIncome exceeding Rs.1,50,000/- but does not exceed Rs.2,50,000/-\n-- Rs.5,000/- + 20% of excess over Rs.1,50,000/-\nIncome exceeding Rs.2,50,000/-\n-- Rs.25,000/- + 30% of excess over Rs.2,50,000/-\n\nIf Income exceed Rs.10,00,000/- Surcharge @10% of Income Tax\n\nEducation Cess @2% of Income Tax and Surcharge, if any
291282
If you've lived in your home for at least two years, then capital gains taxes probably don't apply at all, due to a new tax law inacted in 1997.  For more information, read here:\n\nhttp://www.bankrate.com/brm/news/real-estate/20041018a1.asp\n\nI'm not an accountant, but this is something I recently discovered too.  (In other words consult your tax advisor before acting on this information.)
484914
The Tax Office has issued a Practice Statement concerning the tax issues arising when there are distributions of trust income and capital gains to separate beneficiaries.\n\nBased on the technical application of the law, a beneficiary entitled to a share of trust ‘income’ pays tax on that share of the trust’s net (taxable) income. As a capital gain is not ‘income’, beneficiaries entitled to income may be taxed on capital gains distributed to other beneficiaries, although they have no entitlement to the cash.\n\nThe Practice Statement outlines two practical approaches that will be accepted by the Tax Office in certain circumstances.\n\nThe first enables the beneficiary who receives the benefit of the capital gain to bear the tax.\n\nAlternatively, in certain cases, the trustee can be chosen to recognise the tax liability. A written agreement may be required between the trustee and the beneficiaries. \n\nThe Practice Statement focuses on trusts that have separate ‘income’ and ‘capital’ beneficiaries. However, its application to ordinary discretionary trusts is also acknowledged.\n\nOn contrary it differs from country to country with the percentage or the amount, but the basic remains same... check the link...
268572
17.1 as of 2/28/06.  you will have to adjust slightly for the market change since then.
294888
You should check with a good accountant (not one of the walk up places like H&R). I am pretty sure that Capital Gains is to be paid only on amounts over $250,000.
149330
I dont think you have any time.  If the house was lived in less than two years, you always pay capital gains. Always check w/ your financial advisor or lawyer, but I think the min. is two years.
10380
Some of the significant changes are in the following areas:\n\n    * Charitable contributions\n    * Definition of a child\n    * Earned Income Credit\n    * Electric and clean-fuel vehicles\n    * Empowerment zone stock\n    * Exemption amounts\n    * Retirement savings plans\n    * Social security and Medicare taxes\n    * Standard deduction\n    * Standard mileage rates\n\n\nMore information about the changes can be found on the IRS website at http://www.irs.gov/formspubs/article/0,,id=109876,00.html#cc_2005
1165154
Example 1:  Capital Gains Tax cut.\n\nCapital Gains tax was cut by republicans from 27 percent to 15 percent.  The capital gains tax is a tax that you pay on a certain type of investment income called a "Capital Gain" an example of a capital gain is the profit you make when you buy stock and it goes up in value and then you sell it.  Capital Gains is one type of income that is not made by working.  \n\nCapital Gains taxes are paid by people who make lots of money on capital invetments, by definition they must make more than they lose on their other capital investments in order to pay the tax.  Capital Gains taxes are not placed on retirement investment such as 401K with a few exceptions.\n\nMost middle class people make a tiny percent of their income through capital gains, this is because most middle class people ahve their stock in a retirement account which doesnt pay capital gains.  Most "RICH" people have already maxed out their retirement acocunt contributions and make a much larger share of their income on capital gains.  \n\nSo when there is a capital gains tax cut, the Rich benefit the most.  Their investment income (that they make from NOT WORKING) is now taxed at a much lower rate than most americans WORKING income, including their own.  Many rich people have also figured out a way to turn their regular income into Capital Gains income through creative (but not illegal) accounting, so they are also getting a tax cut on their normal income. \n\nThis is an example of a TAX CUT FOR THE RICH.  Massive tax cut for the rich, hardly anything for middle class.\n\nExample 2:  Dividend Tax Cut\n\nCongress passed a Dividend Tax cut this year, reducing the tax rate on another type of investment income (a type of income that doesnt involve WORK), where people who own shares of stock and other assets receive cash payments for each share they own.  Repulbicans slashed the top divided rate from 39.6 percent to 15 percent.  This is now much lower than the income tax rate that the same people would pay on their income if they worked for it.\n\nAgain, regular people don't own enough stock to get very many dvidents.  Througought my entire life, I think I've made about 1000 dollars on dividends.  THE RICH benefit greatly from these tax cuts, since many rich people, especially older rich people, recieve a lot of dividend income.  \n\nGeorge Bush, on his 2005 tax return, saved about 26,000 dollars from these tax cuts.  I didn't make enough of this investment income to even qualify.  Most americans don't.\n\n\nExample 3:  Estate Tax\n\nFinally, the republicans tried unsuccessfully to cut the ESTATE TAX down to 0%.  The estate tax is a tax that people like Paris Hilton pay, when they inherit more then 2 million dollars from a dead realative that for some reason, has not already transferred his entire fortune to his children already.  If you don't inherit more than 2 million dollars then you don't pay the tax. If you inherit 2 million and two dollars, then you only pay estate tax on the 2 dollars in excess of two million.  \n\nIt is not a tax on the dead person, it's a tax on the person taht recieves all that money by inheriting it. (NOT WORKING)\n\nI don't think i have to explain why the middle class doesn't pay this tax.\n\nSo there are three examples of "TAX CUTS FOR THE RICH" That most people will never benefit from.  I hope that is clear.  The basic philosophy of republicans seems to be that the higher your income and the more income you make from not working, then the more you should get back in tax cuts.  \n\nI hope people realize how unfair the recent republican tax cust have been and vote this November.
812405
Model balance sheet and profit and loss appropriation account can be found in Schedules to the Companies Act 1956. This is an Indian Law. In USA you may refer to website of CPA institute for any such format. Otherwise best way is to go to any company's website and look under information for investors. Financial results for companies are usually displayed on their websites. You can get formats there.
593016
As I understand, it is shifting asset allocations.\nMostly seems to be fee based turnover of funds from here to there!