budget 2023 personal finance news

January 30, 2023 06:37 AM IST

Budget 2023: What February 1 may have in store for an ESOP holder

Since global mobility has become a common trend in recent times, a clear provision in the tax laws is required to eliminate the ambiguity regarding taxation of ESOPs for employees

Budget 2023: Easy reforms to bring more household money into capital markets

Financialisation of household savings can be speeded up in this Budget by rationalising capital gains tax, giving more tax sops to mutual funds, and incentivising distribution.

Budget 2023: Insurers seek separate tax deduction basket for life policies, higher limit for health premium

Ahead of the budget, insurance companies also want finance minister Nirmala Sitharaman to accept their demand to exempt the principal component of annuities, or pension income from tax

Budget 2023: Will long-term capital gains exemption limit go up?

The exemption allowed for long-term capital gains on equity investments need to be further enhanced to account for inflation, rising income levels and to encourage more investors into equity markets, say analysts

Budget 2023: Will gold ETFs get more glitter?

A hike in import duty on gold and various charges, like cess, have increased the difference between international and landed price of gold in India to about 18 percent. A cut in duties in the upcoming budget would bode well for gold.

Explained: Section 80TTB tax break on deposits

This is going to be a do-or-die year for cryptos. Are investors prepared?

The digital assets market will need more time to recover from a series of setbacks, including bankruptcies, frauds and crash of asset prices amid increased surveillances by governments around the world, including India’s

Budget 2023: Will FM Nirmala Sitharaman allow mutual funds to manage insurance money?

There’s merit in this Budget 2023 proposal, argues the writer. That’s because MF AMCs have the set-up and skill-sets in place, besides a plethora of options in terms of fund categories ― 11 equity funds, 16 debt funds, six hybrid funds plus index funds, theme/sector funds, etc. So, rather than the insurance company duplicating the efforts, it can simply be accorded access to.

Budget 2023: What tax experts really want from the finance minister

Budget 2023 expectations: Moneycontrol spoke to four chartered accountants to understand their expectations from this year’s exercise.

Budget 2023: Mutual funds ask for tax parity with insurance and listed bonds

AMFI, the Association of Mutual Funds of India, has asked for uniform capital gains taxation and better tax treatment for ETFs, from Budget 2023

Budget 2023: Senior citizens want more medical insurance deductions, tax-free pension

Increased cost of healthcare for senior citizens, particularly post COVID-19, warrants a higher deduction limit for premiums as well as routine medical expenses, say financial planners. A higher deduction for interest earned on fixed deposits would also bode well for senior citizens, in Budget 2023.

Budget 2023: Why you should invest in ELSS throughout the year, and not make a year-end dash

Budget 2023 must make an effort to increase the section 80C tax deduction limits. Retail investor would benefit if they could save more taxes. A study of inflows into ELSS funds or tax-savings funds shows that when Section 80C tax deduction limits were enhanced, the last time, to Rs 1.5 lakh, flows into these funds went up.

Budget 2023: One year into crypto income tax, but confusion prevails. Will FM provide clarification?

Budget 2023: Tax experts feel many retail investors believe that crypto-to-crypto transfers are non-taxable, while there’s ambiguity over TDS deduction on foreign exchanges.

With EMI burden rising, will Budget 2023 give more sops to home buyers?

Real estate experts say that tax deduction benefits to repay principal and interest amounts haven’t been raised in many years. Interest rate hikes and increased demand through the Covid pandemic should nudge the government to give sops to home-buyers, they add.

Budget 2023: Will long-term capital gains exemption limit go up?

The exemption allowed for long-term capital gains on equity investments need to be further enhanced to account for inflation, rising income levels and to encourage more investors into equity markets, say analysts.

Budget 2023: Insurers seek separate tax deduction basket for life policies, higher limit for health premium

Ahead of the budget, insurance companies also want finance minister Nirmala Sitharaman to accept their demand to exempt the principal component of annuities, or pension income, from tax

Union Budget 2023: AMFI asks for no LTCG on units of equity funds if held for 3 years

One of the demands if for uniform taxation of capital gains from mutual funds and Unit-Linked Insurance Plans issued by insurance companies.