Tag Archives: chirag-nangia

Interest income on maturity of NSC is taxable as income from other sources – Chirag Nangia

With just a day left for the Modi government’s pre-election budget, speculations are going around whether the Finance Minister would issue a full-fledged budget making some big-ticket announcements or simply follow the protocol of issuing interim budget. The budget scheduled to be presented on February 1, is being keenly awaited as it is expected that the government will put favorable measures in plate of the masses.

Chirag Nangia, Director answers the weekly queries for Financial Express.

 Interest income on maturity of NSC is taxable as income from other sources

Only gains in MFs are taxed, not entire redemption amount – Chirag Nangia

With just a day left for the Modi government’s pre-election budget, speculations are going around whether the Finance Minister would issue a full-fledged budget making some big-ticket announcements or simply follow the protocol of issuing interim budget. The budget scheduled to be presented on February 1, is being keenly awaited as it is expected that the government will put favorable measures in plate of the masses.

Chirag Nangia, Director answers the weekly queries for DNA.
Only gains in MFs are taxed, not entire redemption amount

Cost for repairing house can be deducted from capital gains – Chirag Nangia

In a recent case before the Bangalore Tribunal, an employee had been granted Esops at different points of time by his employer’s holding company. These had not been exercised by the employee, though Esops had vested. The holding company entered into an option transfer agreement with the employee, transferring Esops held by the employee to the holding company.

Cost for repairing house can be deducted from capital gains