This article shows you the method for lowering the effect of Tax Collected at Source (TCS) on foreign remittances and travel via RBI’s Liberalised Remittance Scheme (LRS) as per new rules introduced under Union Budget 2024.
This article explains the new of the reversal of the 12.5% without indexation tax rule to allow 20% with indexation for all properties bought before 23rd July 2024.
This article helps you calculate the minimum price above which you must sell your property to pay lower taxes under the taxation rule change as per Budget 2024.
This article shows you how debt, international and gold/silver mutual funds will get taxed as per the new capital gains tax declared in the Union Budget 2024.
This article describes how to use the Arthgyaan goal-based investing tool as a calculator to determine if switching to the New Tax Regime makes sense from 1st April 2024.
What did Union Budget 2024 change that will now affect your portfolio the most?
From the Budget speech presented by the Union Finance Minister Nirmala Sitharaman on 23 Jul 2024, we analyse some key points that have the highest potential for impacting your portfolio:
Which tax regime to choose: old or new?
What are the changes to capital gains tax for shares and mutual funds?
What are the changes to tax deductions related to NPS?
How selling real estate will incur more tax and what you should do about it?
How to do tax harvesting for your shares and mutual funds?
Should you still invest in SGB after Gold import duty cut?
Which tax regime is best after Union Budget 2024?
In the Union Budget 2024 speech, the new tax regime slabs were tweaked to give an additional ₹17,500 tax reduction. Here is a worked-out example for an income of ₹20 lakhs demonstrating the ₹17,500 benefit.
What are the changes to tax deductions related to NPS in the Union Budget 2024?
Union Budget 2024 added a new incentive for taxpayers to switch to the New Tax Regime by increasing the deduction available under non-government employer contributions to the NPS. It raised the eligibility amount from 10% to 14% of basic pay plus dearness allowance (DA).
We are not convinced that even this change makes NPS a good retirement plan due to the forced annuitisation and lock-in up to age 60 rules. We have argued both for and against the merit of NPS as per these new changes in detail here: Union Budget 2024: Should you invest more in NPS now in the new tax regime?
How to do tax harvesting for your shares and mutual funds after the changes announced by the Union Budget 2024?
We have a worked out example on how tax harvesting changes due to equity taxation change in the Union Budget 2024.
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This post titled Union Budget 2024: What are the most important changes that will now affect your portfolio? first appeared on 24 Jul 2024 at https://arthgyaan.com
