Budget 2024 July

[Wealth is my birth right!]

BUDGET 2024 UPDATE :


Tax increased on EQUITY gains





Short term capital gains tax (STCG) increased from 15% to 20%





Long term capital gains tax (LTCG) increased from 10% to 12.5%


- New Limit of exemption for Long term capital gains will be Rs 1.25 lakh per year

 

[m4b]

0-3L: 0%
3-7L: 5%
7-10L: 10%
10-12L: 15%
12-15L: 20%
More than 15L: 30%

 

[Avatar Aang]

buyback Gains taxable at receivers hands.

 

[m4b]

STT FNO 0.02 from 0.01

 

[shivamk]

Loot lo, sab loot lo

 

[shivamk]

BUDGET 2024 UPDATE :


Tax increased on EQUITY gains





Short term capital gains tax (STCG) increased from 15% to 20%





Long term capital gains tax (LTCG) increased from 10% to 12.5%


- New Limit of exemption for Long term capital gains will be Rs 1.25 lakh per year

LTCG increased for all but STCG for some assets, right?

 

[Ak Singh]

Ltcg taxes should not have been increased.
Bad decision

Government reduced duties on gold which is unproductive product and blocks the money in economy. Whereas equity is productive but increased ltcg.
That's why you need finance expert for tax instead of politicians.

 

[Avatar Aang]

Yes IMO increasing STGC and LTGC will no go well with the market sentiment

 

[chasni]

Yes IMO increasing STGC and LTGC will no go well with the market sentiment

It will fall today and then go back to normal tomorrow forgetting as if nothing happened.

 

[panu24]

BUDGET 2024 UPDATE :


Tax increased on EQUITY gains





Short term capital gains tax (STCG) increased from 15% to 20%





Long term capital gains tax (LTCG) increased from 10% to 12.5%


- New Limit of exemption for Long term capital gains will be Rs 1.25 lakh per year

Very bad decision.

 

[shivamk]

It will fall today and then go back to normal tomorrow forgetting as if nothing happened.

Why so ?

 

[Wealth is my birth right!]

Nifty wont stand with 25k i guess

 

[SSV]

Govt wants to take their part of the pie in the booming Indiab share market participation by the masses..
Nothing is going to happen to the markets
Whatever happens, it will be short lived

 

[navdeep22]

gold and silver prices reduved by 3% as import duty reduced

 

[m4b]

Strong support at 24000 and channel (24194-24277)! Only fear when re-tested.

 

[m4b]

Strong support at 24000 and channel (24194-24277)! Only fear when re-tested.

If breakdown happens

L1 24000 +/- 100
then
L2 23500 +/- 100

 

[msankadi]

greed

is the word that constantly comes to mind every time I hear this govt budgets...

and I am a 'bhakt' ...still

 

[Riva]

During covid, every second person with a smart phone has opened a trading account and is invested in stock. That's the reason for the markets current highs and not because the economy is benefiting. Yes there may be some sectors which have grown, but not all. There is a saying in the stock market which goes like.. when the tide rises, even the $hi7 that floats rises... That's the current status of todays market.
The govt wants a piece of this cake so has increased ltcg and stcg.
There will be NO impact of this budget on the market in 6 months or less from now!!

 

[shivamk]

Key highlights PDF: https://www.indiabudget.gov.in/doc/bh1.pdf

 

[msankadi]

There will be NO impact of this budget on the market in 6 months or less from now!!

Agree with everything else you've said... However this no change thing keeps being thrown about after any change... How will we know what would have been the level after 6 months if this tax increase didn't happen?

Ofcourse in a growing economy markets keep rising up in long term but to say there is no impact because of tax rise is not backed by the data unless you've a control period where such a rise never happened