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Tuesday, July 1, 2014

Take Advantage of Tax Benefit From Inflation

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94 8300 8300

 

 Curiously, investors also stand to gain from high inflation because it helps reduce their tax on capital gains. Tax rules allow investors to adjust the cost of an asset to the inflation during the holding period. The cost inflation number for 2013-14 is 939, and could be roughly 10% higher at 1,032 for this year. This means if you choose the indexation option, you won't have to pay any tax even if your investment earned 10% annualised returns in the past five years. What's more, you can book a notional loss if the investment lagged inflation during the period and adjust it against gains from other investments. If it can't be adjusted in the current year, this loss can be carried forward for up to eight financial years. However, only certain investments (debt funds, FMPs, gold funds and debt-oriented hybrid schemes) are eligible for indexation benefit.

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