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Time of India
a day ago
- Business
- Time of India
Equity market volatility: Will I lose more on taxation if I switch from equity funds to liquid fund?
Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) Switching between mutual funds—whether within the same AMC or to a different one—is not tax-free. It is treated as a redemption followed by a fresh investment , thus attracting capital gains tax. If the original investment was in equity-orient ed mutual funds held for over a year, gains are subject to Long-Term Capital Gains (LTCG) tax. LTCG exceeding Rs 1.25 lakh in a financial year is taxed at 12.5% with indexation. To reduce tax impact, consider redeeming in phases over 3-5 years to utilise the annual exemption. Using direct plans of liquid funds and a Systematic Transfer Plan (STP) can lower costs and manage timing risk. Consult a CA to assess your LTCG liability and explore tax-saving options, especially if your total income is within the Rs 5 lakh slab and eligible for Section 87A rebateAs per Section 47 of the Income-tax Act, 1961, any capital asset transferred as a gift shall not be considered a transfer. Since mutual funds are considered capital assets, transferring them to your father as a gift will not be treated as a transfer and, therefore, you will incur no tax liability on this transfer. Additionally, as per Section 56(2)(x) of the Act, any property received without consideration or for inadequate consideration from a 'relative' is exempt from tax. Notably, mutual funds are covered under the definition of property, and the term 'relative', inter alia, includes a father. Therefore, the mutual funds received by your father will be considered a gift and will be exempt from tax. Consequently, neither you (transferer), nor your father (transferee) will incur any tax liability on this transfer. However, when your father subsequently decides to sell the mutual funds, he will be liable to pay capital gains tax on the sale. Please note that the cost of acquisition for him will be the same as the original cost of acquisition incurred by you (cost to the previous owner), and the holding period will also include the period from the date you purchased the mutual funds. Since the holding period of the mutual funds exceeds 12 months, the sale will result in a long-term capital gain (LTCG). Hence, on the sale of mutual funds, your father will be liable to pay tax on LTCG exceeding Rs 1,25,000 at the rate of 12.5% under Section 112A of the our expertsHave a question for the experts? etwealth@
Arabian Post
4 days ago
- Business
- Arabian Post
Union Ministry Of Labour Still Peddling False Narrative On Joblessness In India
By Dr. Gyan Pathak It is ridiculous. Union Government of India is still hiding behind a questionable extrapolation on employment based on Reserve Bank of India's KLEMS (Capital, Labour, Energy, Materials, and services) database, and informed the Lok Sabha on July 24 that India added 17 crore jobs between 2017-18 and 2023-24. The Centre led by Prime Minister Narendra Modi has been peddling this false narrative right from the Lok Sabha election campaign in 2024, which is still going on. The Union Minister of State for Labour and Employment Shobha Karandlaje in a written reply has provided a camouflage of data based on KLEMS, Union Government's PLFS data, and ILO outlook of 2024 and claimed that those data indicated 'improvements signalling higher engagement of the working-age population in productive employment' rejecting claims of joblessness, especially among India's youth. The reply of the Union Ministry of Labour and Employment has come just a day after it had rebutted a media report questioning the credibility of India's unemployment figures. The ministry had defended its Periodic Labour Force Survey (PLFS) calling it 'globally recognized' and aligned with international standards such as those set by the International Labour Organization (ILO). It is to be noted here, that PLFS has recently transitioned into a new methodology and periodicity, and has started monthly reports on employment and unemployment since April 2025, the first report of which came in May. It included both rural and urban data. PLFS has replaced the old Labour Survey on Employment and Unemployment since 2017-18, and has started giving yearly data for rural areas and quarterly data for urban areas with a delay of at least three months. The new methodology of PLFS has warned that it is not comparable with the old data. Nevertheless, the Minister has compared the old PLFS data and the new PLFS data. In absence of the realtime data from the government, people had to depend on the private data, such as one from the Centre for Monitoring Indian Economy (CMIE). The unemployment data from CMIE has been always much above the official PLFS data. Government has been campaigning against the private data and urging people not to believe them. They have urged the people to believe on official PLFS data, the reliability of which has always been questioned and considered stale. Irony is that the Union government, including the Prime Minister Narendra Modi did not believe the PLFS data, and therefore they have been relentlessly quoting the extrapolated data from the RBI's KLEMS database. They why should people believe the PLFS data? The new monthly PLFS data on employment and unemployment is also not generally believed, both by the common people and experts. Only a few days ago the Reuters poll of independent economists has said that the Indian government's data is inaccurate and masks the severity of joblessness and underemployment. Several of the experts said that the true jobless rate is around twice the official figure. Over 70 per cent of independent economists polled, 37 out of 50, said that the official unemployment rate at 5.6 per cent in June, is inaccurate. It was on this report, the Union Ministry of Labour and Employment, said on July 23 that Reuters poll relied on 'unverifiable perceptions' adding that while 'expert opinion can offer valuable insights, it cannot be a substitute for large-scale, representative, and methodologically robust surveys.' In the parliament, the Union Ministry of Labour and Employment has said, that the number of employed people in the country rose to 64.33 crore in 2023-24 from 47.5 crore in 2017-18. Since it is based on extrapolation from the RBI's KLEMS data, it is worth visiting the KLEMS data to know the falsehood that is being played though the false narrative of the government. Earlier, government has given this data even in the Rajya Sabha. First thing to note the Government's official PLFS data does not given the employment figures at the level of the extrapolation from the RBI's KLEMS data. It is the reason because of which Centre has been repeatedly quoting KLEMS to show high employment figures, while PLFS shows low employment figures. RBI's data shows that in 2014- 15 we had 471.46 million employed persons, which rose to 472.04 million in 2015-16. For the year 2016-17, when millions of MSMEs were closed and most of them reduced their operation up to 75 per cent after the demonization in November 2016, and millions of workers lost their jobs, the RBI data showed 1.2 per cent increase in employment which increased to 473.2 million. For the year, 2017-18, when even NSSO data showed 45 years high unemployment rate at 6.1 per cent, the RBI data showed that employment increased by 1.8 per cent to 475 million. For the year 2018-19, RBI data on employment showed a jump of 17.6 per cent to 492.6 million. In 2019-20, RBI data showed a jump in employment be 41.8 per cent that rose to 534.4 million. The more mysterious RBI data came for 2020-21, the year of the lockdown and COVID-19 crisis when the entire economy came to a halt. RBI data said that employment jumped to 31.2 per cent for that year and it reached to 565.6 million. The next COVID-19 crisis year was 2021-22, and the RBI data showed 11.9 per cent jump in employment which reached to 577.5 million. It should be noted that when India's GDP growth rate turned negative about (-6 per cent) in 2020-21 due to lockdown of the economy, RBI's data show jump in employment. For 2022-23 the data showed 19.2 per cent jump to 596.7 million, and for 2023-24 the jump was 46.7 per cent to 643.3 million. It is strange that the Union Government still quoting this RBI data which are questionable. The reality is that government employment data is inflated. Unpaid household helpers are counted as employed, and also persons who got 1 hour of work. Own account workers, that are self-employed, are on the rise, and earning very low below the survival level. About 90 per cent of the employment are informal, and lack social security. Underemployment is rampant. The Union Minister of State for Labour and employment has given the record employment figure from RBI's data base for the year PLFS data shows that a total of 58.4 per cent of the total employed people in 2023-24 were self-employed. The percentage of self employed has risen from 55.8 per cent in 2021-22 and 57.3 per cent in 2022-23. It is indicative of the declining job opportunities in the labour market which enforcing people to become either helping hand in household enterprises or own account worker so that they can survive amidst lack of social security coverage. Regular wage and salaried jobs have been almost stagnant, the PLFS 2023-24 shows. It was 21.5 per cent in 2021-22, declined to 20.9 per cent in 2022- 23, and reached 21.7 per cent in 2023-24. Share of casual labour in the work force was also declining which was 19.8 per cent in 2023- 24, but was 21.8 per cent in 2022- 23 and 22.7 per cent in 2021-22. (IPA Service)
Economic Times
23-07-2025
- Business
- Economic Times
Tata Capital seeks up to $20 billion valuation in upcoming IPO
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Tata Capital Ltd. is seeking a valuation of $18 billion to $20 billion in its planned initial public offering and could file an updated draft red herring prospectus as soon as this week, people familiar with the matter valuation is much higher than an earlier target of about $11 billion, with the Tata Group unit buoyed by a recent rights issue and the success of other IPOs in India, including by fellow shadow lender, HDB Financial Services Ltd., the people said. HDB attracted strong demand and raised about $1.5 Capital aims to raise about $2.2 billion in its IPO, which is expected to launch in the first half of September, the people said, asking not to be identified discussing confidential for Tata Capital and parent Tata Sons Pvt. didn't respond to requests for that valuation, Tata Capital would rank as India's fourth-biggest shadow bank Bajaj Finance Ltd. has a market value of about $69 billion, followed by Bajaj Finserv Ltd. and Jio Financial Services Ltd. at $38 billion and $23 billion, is valued at about $7.7 billion following its debut earlier this month, having rallied almost 14% on its first day of around India's equity markets is picking up again, with other big listings in the pipeline, including the local unit of LG Electronics Inc., which is looking to raise as much as $1.7 billion. Kotak Mahindra Capital Co. expects more than $30 billion to be raised in Indian IPOs over the next 12 months, an executive from the bank said in an interview with Bloomberg News this Capital initially filed confidential IPO papers in April and received approval from India's market regulator last month to proceed. Companies are then required to submit an updated draft red herring prospectus and allow time for public feedback before filing a final Reserve Bank of India has issued guidelines requiring larger shadow banks including Tata Capital to list by the end of September.
The Irish Sun
22-07-2025
- Entertainment
- The Irish Sun
Watch the moment Jess Glynne finally meets Jet2 voiceover star after TikTok trend goes viral
WATCH the moment Jess Glynne finally meets Jet2 voiceover star after TikTok trend goes viral - with fans going wild. Unless you haven't scrolled on social media for about four months, you'll definitely know about the iconic Jet2 trend that has taken the internet by storm. 5 Jess Glynne finally met Jet2 voiceover star after the TikTok trend goes viral Credit: CapitalOfficial/Instagram 5 Zoe Lister is the lady who does the Jet2 voiceover Credit: CapitalOfficial/Instagram 5 The two women united on Capital earlier this week Credit: CapitalOfficial/Instagram Hold My Hand has been the signature theme song for Jet2's television adverts since around 2015, the same year the song was released. A decade on, the advert - complete with its voiceover by Zoe Lister - has gained international popularity on social media. "Nothing beats a Jet2 holiday," is now somewhat of a viral phrase on TikTok and Instagram, with many people using the audio in their own videos. And this, hitmaker Read More about Jess Glynne Jess, 35, and Zoe, 43, had never met despite having their work combined a few years ago. Capital Breakfast, hosted by In a video posted to Instagram, Jordan was so excited that he squealed it was "finally happening" ahead of the two women meeting. "It's happening! It's happening!" he screamed as Zoe entered the studio and gave Jess a hug. Most read in Celebrity Co-host Chris Stark then asked Jess: "You know what's coming, right? We've got to chat about it. "Of course, talking about Hold My Hand… Chart-topping singer drew me a doodle mid-gig and now it's my first ever tattoo "You always hear that song whenever you go on a plane. "Then it's in the advert. "And then, for reasons no one really understands, this summer, it just exploded on TikTok. Has it surprised you how massive this has all gone?" Jess replied: "Yeah, it's a massive surprise 100%. It's the most amazing thing to see though." The hitmaker then hilariously performed her own version of Zoe's famous voiceover. Reading the full script out in the studio, Jess said: "Nothing beats a Jet2 holiday. "And right now, you can save £50 per person. "That's £200 off for a family of four." The entire audience cheered and Zoe was seen laughing as Jess read out the iconic voiceover script. Zoe then gave an impromptu live performance of her famous voiceover while Hold My Hand played in the background. Commenting on the video shared on Instagram, one person penned: "I love how people gets crazy over any kind of trend." Another wrote: "No this is a masterpiece." "The collab the world needed," said a third. While a fourth penned: "British culture at its finest!!" But a fifth person was less than impressed and controversially said: "Am I the only one starting to find this a bit boring now?" 5 Jess' hit Hold My Hand came out in 2015 Credit: Getty 5 Zoe Lister does the voiceover for Jet2 Credit: PA:Press Association
Scottish Sun
22-07-2025
- Entertainment
- Scottish Sun
Watch the moment Jess Glynne finally meets Jet2 voiceover star after TikTok trend goes viral
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) WATCH the moment Jess Glynne finally meets Jet2 voiceover star after TikTok trend goes viral - with fans going wild. Unless you haven't scrolled on social media for about four months, you'll definitely know about the iconic Jet2 trend that has taken the internet by storm. Sign up for the Entertainment newsletter Sign up 5 Jess Glynne finally met Jet2 voiceover star after the TikTok trend goes viral Credit: CapitalOfficial/Instagram 5 Zoe Lister is the lady who does the Jet2 voiceover Credit: CapitalOfficial/Instagram 5 The two women united on Capital earlier this week Credit: CapitalOfficial/Instagram Hold My Hand has been the signature theme song for Jet2's television adverts since around 2015, the same year the song was released. A decade on, the advert - complete with its voiceover by Zoe Lister - has gained international popularity on social media. "Nothing beats a Jet2 holiday," is now somewhat of a viral phrase on TikTok and Instagram, with many people using the audio in their own videos. And this, hitmaker Jess Glynne met voiceover star Zoe Lister for the first time. Jess, 35, and Zoe, 43, had never met despite having their work combined a few years ago. Capital Breakfast, hosted by Jordan North, united the women for the very first time on Monday morning - and his excitement was contagious. In a video posted to Instagram, Jordan was so excited that he squealed it was "finally happening" ahead of the two women meeting. "It's happening! It's happening!" he screamed as Zoe entered the studio and gave Jess a hug. Co-host Chris Stark then asked Jess: "You know what's coming, right? We've got to chat about it. "Of course, talking about Hold My Hand… Chart-topping singer drew me a doodle mid-gig and now it's my first ever tattoo "You always hear that song whenever you go on a plane. "Then it's in the advert. "And then, for reasons no one really understands, this summer, it just exploded on TikTok. Has it surprised you how massive this has all gone?" Jess replied: "Yeah, it's a massive surprise 100%. It's the most amazing thing to see though." The hitmaker then hilariously performed her own version of Zoe's famous voiceover. Reading the full script out in the studio, Jess said: "Nothing beats a Jet2 holiday. "And right now, you can save £50 per person. "That's £200 off for a family of four." The entire audience cheered and Zoe was seen laughing as Jess read out the iconic voiceover script. Zoe then gave an impromptu live performance of her famous voiceover while Hold My Hand played in the background. Commenting on the video shared on Instagram, one person penned: "I love how people gets crazy over any kind of trend." Another wrote: "No this is a masterpiece." "The collab the world needed," said a third. While a fourth penned: "British culture at its finest!!" But a fifth person was less than impressed and controversially said: "Am I the only one starting to find this a bit boring now?" 5 Jess' hit Hold My Hand came out in 2015 Credit: Getty
