Focusing only on the tax benefits of an investments can lead to unintended consequences such as too much or too little exposure to asset classes in the portfolio. It is important to be mindful of the goals which in turn should drive the asset allocation and the products included in the portfolio.
An individual can reduce his tax burden by investing under various instruments and get benefits of up to Rs1.5 lakh under Section 80C of the Income-tax Act.
Budget 2020 is a great opportunity for the Modi Government to reset the economy for the long term. This means forgetting fiscal fundamentalism, spending more & the government re-entering the economy. Since the Rao-Manmohan reforms, India's economy has been catering to the top 10%. It is time to restructure government policy to reorient the economy to produce for the remaining 90% and create wealth for them. This is the only way to bring India's economy back on track in the coming decade.
Union Finance Minister Nirmala Sitharaman met her counterparts from state and Union Territory governments on Wednesday. The meeting was held to discuss the upcoming Union Budget.
Budget 2019-20 proposed a slew of measures to attract investments and bolster growth. The key proposals in the budget which are relevant to FPIs include increase in surcharge for taxpayers other than corporates and partnership firms, increase in the default limit for FPI investment in Indian equities from 24% to the sectoral limit, merging the NRI-PIS route with the FPI route, rationalization of KYC norms and rationalization of STT rates on option contracts. Rajesh Gandhi, Partner, Deloitte Haskins & Sells LLP speaks to Nasrin Sultana, Mint on how to interpret the tax proposals.
Finance Minister Nirmala Sitharaman presented the Union Budget for the second term of Narendra Modi government. During the budget, she spoke about the income tax and surcharges on the tax. Surcharge on those with income between ₹2-5 crore and 5 crore-above are to be increased. "Enhance the surcharge on individuals having taxable income from 2 crore to 5 crore and 5 crore and above so that effective tax rates for these two categories will increase by around 3% and 7% respectively, the finance minister said.
Indian market investors will keep a close eye on the first Union Budget by the new government on Friday. Rusmik Oza, head of fundamental research, Kotak Securities Ltd speaks to Mint's Nasrin Sultana on key things that markets will watch out for in Union Budget 2019.
The Union Budget 2019-20 is expected to contain a new industrial policy, which is likely to focus on re-industrialising the economy and creating manufacturing jobs. The announcement of the new policy would come amid upheaval in the global economic order, with manufacturers considering an exit from China due to its protracted trade war with the United States of America. The policy was ready by the end of Modi government's first term, but wasn't released possibly due to electoral concerns.
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Mint's Nasrin Sultana speaks to students and millennials in Mumbai about their wish list from the Union Budget 2019. Most students are looking for more skill-based education, government's emphasizes on sports, culture and art. Hoping that education should be accessible for all, they also expect the government to remove reservations and quota in the education system.
Mint's Nasrin Sultana goes to Dalal Street to take pulse of the stock markets ahead of Union Budget 2019. While retail investors are much concerned about increase in LTCG, stock markets analysts feel that the Union Budget may just be a non-event.
Nirmala Sitharaman has quickly climbed the political ladder to reach one of the most prestigious and important posts in the Government of India. She joined the BJP only in 2006, and in the 13 years since, has managed to occupy some of the highest offices of the land, including the top post at the Defence Ministry, another historic first for a woman. Ahead of her first budget presentation on July 5, here's a brief summary of Nirmala Sitharaman's career so far
As India gears up for the union budget, Mint's Nasrin Sultana speaks to traders and businessmen at Zaveri Bazaar and Buleshwar in Mumbai to take stock of what are their expectations from the Finance Minister on 5 July
With India's new Union Finance Minister Nirmala Sitharaman preparing to deliver her first budget on July 5, Surya Bhatia, Managing Partner at Asset Managers, helps decode what the document might contain for the common man. He comments on the speculation that income tax exemption limits may be raised, thus putting more money in the hands of the salaried class. Bhatia also assesses the possibility of the re-introduction of a wealth tax on the high income group. Watch the full video for more.
Anil Bharadwaj, the Secretary General of Federation of Indian MSME unpacked the budget for Livemint. He said that the budget would revive the demand and the growth of the country, which had slumped after demonetisation and the GST.
In an interview with Livemint, Nilesh Shah of Envision Capital talks about how the budget was overall positive for markets but the bond markets were not quite convinced with the fiscal maths.
In an interview with Livemint, Piruz Khambatta, Chairman CII (Western Region) and Chairman & Managing Director, Rasna says that the interim budget has been presented with a positive outlook. The Budget announcements have largely taken care of the agriculture sector, middle income class and unorganized sector. The additional income for this population will lead to enhanced spending and higher economic growth. Fiscal deficit of 3.3% forecasted for 2018-19 has been revised upwards by 10 basis points.
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Livemint decodes the implications of tax proposals in interim budget 2019 with personal finance expert Monika Halan. The budget proposed rebates for all those with taxable income of up to Rs. 5 lakh per annum. Tax burden has also been reduced due to the proposed increase in standard deduction from the earlier Rs. 40,000 to ₹50,000. Watch the full video where Monika Halan unpacks how the tax proposals will impact your pockets.
