Latest news with #PublicSectorUndertaking
Indian Express
20-05-2025
- Business
- Indian Express
IISc Bangalore revises GATE COAP schedule for MTech admissions, PSU recruitment
GATE COAP Schedule 2025: The Indian Institute of Science (IISc) Bangalore has revised the schedule for the Common Offer Acceptance Portal (COAP) 2025, which facilitates MTech admissions and Public Sector Undertaking (PSU) recruitments through the Graduate Aptitude Test in Engineering (GATE) 2025. The GATE COAP 2025 round 2 allotment will be available between May 23 and 25 on the official portal — While the dates for GATE COAP round 1 remain unchanged, candidates participating in the COAP second round must view offers and make their decision by May 25, a day earlier than the previously announced deadline of May 26. The Institute has also revised the counselling dates for subsequent rounds. Several premier institutes, including IIT Bombay, IIT Delhi, IIT Madras, IIT Kharagpur, IIT Roorkee, IIT Guwahati, IIT Indore, IIT Bhilai, IIT Dharwad, IIT BHU, and IISc Bengaluru, are participating in the COAP 2025 process. The results for GATE 2025 were announced earlier on March 19, alongside the list of top rankers. The examination was conducted in multiple sessions on February 1, 2, 15, and 16, 2025, with over 10 lakh candidates appearing for the test. GATE is a crucial examination for candidates seeking postgraduate admission and recruitment in Public Sector Undertakings (PSUs).
Economic Times
11-05-2025
- Business
- Economic Times
Updated LTCG and STCG capital gains tax table by income tax department: Check the tax rates for equities, foreign currency bonds and more
The Income Tax Department has updated capital gains tax rates, differentiating between long-term (LTCG) and short-term (STCG) gains across asset classes. Effective July 23, 2024, LTCG on certain securities will be taxed at 12.5%, and STCG at 20%. Taxpayers should note that standard deductions under sections like 80C and 80D are not applicable against capital gains. Tired of too many ads? Remove Ads Capital gains (LTCG & STCG) income tax rate on equities, others Particulars Section 111A (Short term capital gains STCG) Section 112A (Long term capital gains LTCG) Section 115A (royalty and technical service fees) Section 115AC (Income from bonds or Global Depository Receipts purchased in foreign currency) Eligible Assessee Any taxpayer Any taxpayer Non-Resident (NRI) and Foreign Company taxpayer Non-Resident (NRIs) Securities covered Equity shares Units of equity-oriented mutual fund Units of business trust Equity shares Units of equity-oriented mutual fund Units of business trust - Foreign Currency Convertible Bonds (FCCBs) Foreign Currency Exchangeable Bonds (FCEB) Global Depository Receipts (GDRs) of an Indian company or Public Sector Undertaking (PSU) Tax Rate on Income from covered securities - - 10% to 20% on dividend income, as the case may be 4% to 20% on Interest Income, as the case may be 20% on Royalty 20% on Fees for Technical Services 10% on Interest Income 10% on Dividend Income Tax rate on long-term capital gains (LTCG) - 10% (if the asset is transferred before 23-07-2024); 12.5% (if the asset is transferred on or after 23-07-2024) Note: The tax shall be calculated on capital gains exceeding Rs. 1.25 lakh. - 10% (if the asset is transferred before 23-07-2024); 12.5% (if the asset is transferred on or after 23-07-2024) Tax rate on short-term capital gains (STCG) 15% (if the asset is transferred before 23-07-2024); 20% (if the asset is transferred on or after 23-07-2024) - - - Adjustment of basic exemption limit Available to resident individuals and resident HUF only Available to resident individuals and resident HUF only No No Admissibility of deduction under Chapter VI-A No No No, except under Section 80LA to a unit in IFSC and from royalty, and fees for technical services No Tired of too many ads? Remove Ads The Income Tax Department has recently updated the capital gains taxation table and this is important information since the rate of capital gains tax both long term (LTCG) and short term (STCG) is different for different asset classes. Do note this tax rate is applicable for individuals under both new and old tax regime, as these are all special rate incomes.'Determination of Tax in certain special cases: Since all the incomes are not taxable at the same rate. The document provides a list of Capital Gains/Incomes arising out of certain securities eligible for special tax rates. It contains details with respect to the eligible assessee, security, or tax rates etc.,' said the Income Tax the table released by the Income Tax Department:Source: Income Tax Department WebsiteMihir Tanna, associate director, S.K Patodia LLP says: 'Indian Income Tax provisions specified a certain type of income which is not taxable at slab rate but taxable at special rate like sale of equity shares/units of equity mutual funds through recognised stock exchange. While filing ITR For FY 2024-25, taxpayers will pay tax on equity shares/mutual funds based on date of sale, as tax rates are changed from 23rd July 2024. Long term capital gain will be taxed at a higher rate of 12.5% and short term at 20% if it is transferred after 22nd July 2024.'Tanna highlights that taxpayers should remember that deductions of 80C (like Contribution in PPF, Term plan premium, housing loan principal repayment etc) 80D (mediclaim premium) will not be available as deduction against capital gain even if the old tax regime is opted.'If resident Individuals and HUF don't have any other income except above said capital gain then the benefit of basic exemption limit of Rs 3 lakh under new tax regime and Rs 2.5 lakh under old tax regime will be available. Accordingly, capital gains above the exemption limit will be taxable at a special rate as applicable),' says Tanna.
