The government has retained the form, but abandoned the spirit of the Direct Taxes Code (DTC) to have a simple, clean tax system without exemptions. ET decodes the implications of DTC on income from house property, cpaital gains and the new tax treatment of savings. Comment Mail to friend The DTC has proposed contributions up to Rs 3 lakh in a year (both by employer and employee) to any account maintained by a permitted savings intermediary be exempt from tax, and would remain untaxed if it remained in that account. Withdrawals are to be included in income from residuary sources, and taxed accordingly. Comment Mail to friend The DTC had proposed presumptive basis for calculating notional rent from house property (at the rate of 6%) with reference to cost of construction/acquisition. It has also proposed to disallow deductions on interest paid on loans for self-occupied houses. Now, rent received/receivable in a year will be gross rent. More @ http://economictimes.indiatimes.com/quickiearticleshow/6052641.cms Direct Taxes Code watered down to keep all happy NEW DELHI: The government has retained the form, but abandoned the spirit of the Direct Taxes Code (DTC) to have a simple, clean tax system without exemptions. Govt releases new DTC draft, addresses 11 key issues****************************************** Heard on the Street: High-return hopes lure bargain hunters to DLF High-return hopes lure bargain hunters to DLF Shares of real estate firm DLF rose 3% in a lacklustre market to close at Rs 272.25. The move was supported by good volumes, with over 21 lakh shares being traded on the Bombay Stock Exchange (BSE), compared with the two-week average daily volume of around 17 lakh shares. Dealers tracking the DLF counter say bargain hunters have begun nibbling at the stock, as they feel the risk-reward ratio has improved after the 10% correction following the fourth quarter earnings. Some analysts are still bullish on the stock saying that DLF remains the leader in the sector and will be best placed to benefit from a pan-India recovery in property prices. However, another section says investors betting on DLF shares will have to be patient. They point out that a near-term recovery in the stock price will depend on the company’s ability to retire around Rs 5,000 crore of debt this financial year through a mix of internal accruals and sale of non-core assets. Short-covering fuels market upswing Rising inflation and the spectre of higher interest rates appear to be no deterrents to equity investors, as can be seen from the steady rise in benchmark indices. Dealers say the upswing is now being fuelled largely by covering of short positions by traders/fund managers who had taken a bearish short-term view on the market. Fundamentally nothing much has changed, and the market remains expensive relative to its historical valuations, say market participants. However, many foreign funds which had sold call options on the Nifty at 5100, 5150 and 5200 levels are now scrambling to minimise their losses. They are either squaring off their call positions, buying Nifty futures or a basket of Nifty stocks, say institutional dealers. On Tuesday, the Nifty closed at 5222.35, up 0.5% over the previous close. Real estate scrips fail to floor sceptics Shares of real estate firms were the best performers among sectors on the BSE on Monday. But, some of the astute names in the market are rumoured to be bearish on the sector. The buzz is that an operator, who shares his first name with a union minister, has short-sold shares of real estate companies. In 2008, this operator was believed to have profited in a big way from short-selling shares of real estate companies (Contributed by Santosh Nair & Nishanth Vasudevan) ***************************************** Sintex IndustriesMahindra and Mahindra - next few years of growth investedBHEL - no improvementInfosys Technologies - confidence continuesPunj LLoyd - large lossesSrc: ET, Moneycontrol, Smartinvestor, DP blog |
This blog is for providing daily news of Corporate Indian Stories, Corporate Results, Equities, MFs, Banking,Insurance, Brokerages Informations, World Business, Venture Capital, Angel Investors, BSchools, MBAs,Jobs, Politics & something Interesting.Our team will be grateful to the owners of various Indian/world/govt sites to refer their sites to get INFORMATION without objection.Request viewers to make verification about the information. Blog is not responsible for any faulty information.
16 June 2010
Decoding DTC: Implications for income from various sources
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment