Tax: The central government is preparing to make this big announcement for the taxpayers soon.
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New Delhi : Union Finance Minister (Union Finance Minister) budget for next year 2023 (budget) will present. The country’s budget will be presented on 1 February 2023. From the working class to the farmers, everyone has high expectations from this budget. According to media reports, the central government for taxpayers (Taxpayer) Preparing for big change.
Capital gains tax on equity shares, bonds and immovable property has been imposed in the budget to be presented in February next year. (Capital gains tax) The central government is preparing to make a big change.
This change will be done for the convenience of the taxpayers. This change will be done to avoid taxpayers shifting between different rates of taxes and tenure of the property. The tax levied on wealth is classified under capital gains tax.
In the new financial year, efforts will be made to give tax benefits on assets and income. As per the Income Tax Act, gains from sale of capital assets (movable and immovable) are chargeable to tax.
At present, if a taxpayer buys shares or property for a period of one year or less, he has to pay 10 per cent tax on the gain on the holding. Also, income earned after two or three years of holding the shares or property will also be taxed. This tax will be 20 percent.
So far more than 6.85 crore income tax returns have been filed for the financial year 2021-22. This number is likely to increase by 31 December. A senior officer has given information about this.
Income Tax Return for the Financial Year 2021-22 in Individual Category (ITR) The last date for filing was July 31. Whereas for corporate and other taxpayers who are required to get their financial accounts audited, the date will be 7 November 2022.
Capital gains tax is the tax that citizens have to pay on capital gains on any property (Capital gains tax) It is said that generally this tax is payable on the profit made from the purchase and sale of property.
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