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Relaxation, clarification on capital gains tax needed in Budget 2020: EY

Relaxation, clarification on capital gains tax needed in Budget 2020: EY

Finance
By Shalini JainWith the annual budget around the corner, the expectations of individual tax payers are high. Given the recent reduction in corporate tax rates, the individual tax payers expect reduction in tax rates and relaxations coming their way as well. Long-term capital gains on sale of equity shares and units of equity-oriented funds The recent years have seen changes in capital gains taxation which has increased the tax burden of individual tax payers. For instance, the long-term capital gains (LTCG) exceeding Rs 1 lakh on sale of equity shares and units of equity-oriented funds on which Securities Transaction Tax (STT) is paid, which were earlier tax exempt, were brought to tax at 10% for transfers made on or after April 1, 2018. To encourage small tax payers to invest in the stoc...
Investors in India hope to see tax on equity gains scrapped

Investors in India hope to see tax on equity gains scrapped

Finance
By Nupur Acharya, Moxy Ying and Ronojoy MazumdarRemoval of the long-term capital gains tax and measures to boost consumption are high on equity investors’ wish list from India’s federal budget due Feb. 1. With the economy facing its worst growth, investment and jobs crisis in more than a decade, Finance Minister Nirmala Sitharaman needs to offer support for individuals and businesses. The scope may be limited, however, amid concern over a larger than projected deficit. “The government cannot afford to tighten the belt too much,” Hartmut Issel, head of APAC Equities at UBS Global Wealth Management, said by email. Still, the administration is in “no mood to hand out very significant packages,” he added. Here are the key areas where market participants are looking for action, along with poten
In a 24/7 food culture, periodic fasting gains followers

In a 24/7 food culture, periodic fasting gains followers

Health
NEW YORK -- On low-carb diets, meat and cheese are OK. On low-fat diets, fruit and oatmeal are fine. With the latest diet trend, no foods at all are allowed for long stretches of time. A diet that forbids eating for hours on end might seem doomed in a culture where food is constantly available, but apps and Facebook groups are popping up for people practicing "intermittent fasting." Bri Wyatt, a 32-year-old Tennessee resident, tried it this summer. “At first I was like, there’s no way,” she said. But after reading more about it, she thought it might not be that hard. She started by skipping breakfast and night-time snacks, and later moved on to a 60-day challenge of fasting every other day. Melissa Breaux Bankston, a Crossfit instructor in New Orleans, Louisiana, also tried intermitten
Pro-democracy candidates make big gains in Hong Kong elections

Pro-democracy candidates make big gains in Hong Kong elections

World
Pro-democracy candidates in Hong Kong have made large gains as the results come in from district council elections.They have won 201 of the 241 that have declared so far, with 452 total seats up for grabs - according to the South China Morning Post. Previously they had less than a third.The elections have taken on new significance coming amid months of clashes between Hong Kong authorities and protesters, who say the Chinese government is eroding the territory's freedoms. A record 1,104 candidates are standing in the poll, which takes place every four years, and electoral affairs chief Barnabus Fung said the turnout was a record 71%. Last time it was 47%. Advertisement The largest pro-Beijing party has ...

Israel’s Arab parties unite to make gains in upcoming vote

World
Israel's four Arab political parties have announced a merger ahead of September elections, hoping to boost turnout among the minority, which makes up a fifth of Israel's population. Ayman Odeh, head of the Hadash party, said Monday that now that the parties have reunited as Joint List, they can address the "great challenge" facing the country's Arab minority. The four factions first united in 2015, earning 13 seats in the 120-seat Knesset. But infighting later split the Joint List into two parties, which only won a combined 10 seats amid low Arab turnout in April's election. Israel faces an unprecedented repeat election in September after Prime Minister Benjamin Netanyahu failed to form a majority coalition government. Israel's Arab citizens largely identify with the Palestinians and have...