Taxation
Latest news, explainers and analysis on Taxation. Tracking 3 stories on Arth Vani.
Connected in the graph
Latest on Taxation
US Retiree Wins $50,000 at Rodeos, IRS Questions Hobby vs. Business Income
A US retiree, after starting to receive Social Security benefits, won $50,000 (approximately ₹41.5 lakh) from rodeo competitions. This significant income led the US tax authority, the IRS, to investigate whether his rodeo activities should be classified as a hobby or a legitimate business for tax purposes, impacting how his winnings are taxed.
BreakingNPS Tier II Withdrawals: How Capital Gains Are Taxed
Withdrawals from National Pension System (NPS) Tier II accounts are subject to income tax based on your income slab. The eNPS portal does not currently offer a separate capital gains statement for these accounts, requiring investors to calculate and report gains manually.
BreakingGovt Denies Plans to Scrap Equity LTCG Tax for Retail Investors
The Finance Ministry has clarified that there are no proposals being considered to abolish the Long Term Capital Gains (LTCG) tax on equities for domestic retail investors. This comes amid speculation about potential changes to the tax structure.
Some listings may be sponsored and Arth Vani may earn a referral fee. All information is for educational purposes only — verify terms and suitability with the provider before acting. Not financial advice.