The value of the bond is based on the simple average closing price published by India Bullion and Jewellers Association Ltd (IBJA) for gold of 999 purity of the last three business days of the week preceding the subscription period (January 27-29, 2020).
Updated Jan 30, 2021 | 14:07 IST | Kapil Rana
FM needs to provide some relief measures in terms of Capital Gains Tax which may give more legs to the stock market rally. Here are a few points how it can be tweaked to be investor friendly Budget expectations 2021: change in Capital Gains Tax | Photo Credit: BCCL
Capital gain tax is charged at the time of sale of a capital asset on the amount of capital gain. Capital gain can be either long term or short term on the basis of the holding period.
In the coming Budget, the holding period for long-term capital assets, which is presently 36 months should be reduced to 24 or 12 months so that maximum taxpayers can take the benefit of long-term capital gain by holding the capital asset for a shorter span of 24 or 12 months as the case may be.
Union Budget 2021: Section 47 Of I-T Act Must Be Amended With Respect To Gold Bonds Scheme Budget 2021: Taxmann said in its pre-budget recommendations that section 47 should be amended to remove the reference of any particular year from the sovereign gold bond scheme
Updated: February 01, 2021 10:32 am IST
Budget 2021: Section 47 of Income Tax Act should be revised to remove the reference of year 2015.
Budget 2021: Section 47 of the Income-Tax (I-T) Act provides that any transfer of Sovereign Gold Bonds (SGBs), issued by the Reserve Bank of India (RBI) under the Sovereign Gold Bond Scheme, 2015, by way of redemption, by an assessee being an individual shall not be treated as a transfer for the purpose of capital gain. According to research and advisory firm, Taxmann, Section 47 still refers to the sovereign gold bond issued under the Sovereign Gold Bond Scheme, 2015. However, the government issues a new sovereign gold bond scheme every year under its series of tranches for