Sathish Kumar - Prosperity wellness investment business wealth success coach consultant

6 Tax Changes that can impact your Investments & Personal Finance

As we stepped on to the New Financial Year, you will pay more tax on certain things and less on others.

On a lighter note, older peoples will laugh more at their morning laughing clubs where as the mutual fund investor will cry some more.

  1. Pay LTCG Tax on Equity

Now pay tax of 10% of profit if your profits exceeds 1,00,000 a year. Till now you have not paid no tax on your profits if you held stocks and equity mutual funds holdings for 1 year.

  1. Equity Mutual Funds to pay Dividend Distribution Tax

Mutual Fund investors will pay a tax of 10% dividend distribution tax for income distributed by equity mutual funds. This will affect where the schemes that were distributing dividends as strategy

  1. 60 plus Aged Gets Rs.50000 Tax Free Interest

All types of deposits ib Banks, post office and co operative banks held by Senior Citizens will now have interest upto Rs.50,000 Tax free. Earlier this limit was 10,000 for all tax assesses, now this has been raised for 40,000 for senior Citizens.

  1. Increase in Lock IN Period for 54 EC Bonds

Long Term profits from Real Estates are tax free in you are investing in certain schemes under bonds of 54EC. Profits become long term if the assets gets hold for 2 years. Till last year you have to stay in 54EC bonds for 3 years to enjoy the tax break, but from this year onwards the money is locked for 5 years.

  1. 60 Plus Aged Gets additional deduction in Health Premium

Senior Citizens now gets the deduction of health insurance under the section of 80 D upto 50,000/- this was 30,000 last year.

  1. Tax exemption on NPS for Self Employed

Till now employees contributing to NPS ( National Pension Schemes ) were allowed to withdraw 40% as tax free amount at the time of maturity or closure. The same benefit now has been extended to Self Employees too.


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