Trade Nivesh | Market reactions to Union Budget by the minute
Finance Minister Nirmala Sitharaman today unveiled the Budget for FY20, seeking to reverse weakening growth and investment that threaten to take the shine off a recent landslide election victory.
Excellent move to levy 2% tax on cash withdrawal of over one crore rupees in a year. Will help in a more transparent digital economy - Amar Ambani, YES Securities 12:57:02 PM
TDS of 2% on cash withdrawals in excess of 1 cr in a year from a bank account - Ishita Sengputa, PwC 12:56:44 PM
E-tax assessments. Taxpayers should not get harassed by Tax Dept. A scheme of faceless tax assessmentn in electronic mode will be launched shortly. This will also reduce corruption - Sanjay Sanghvi, PwC 12:56:26 PM
Random allotment of scrutiny cases to tax offices. No indication of jurisdiction in the notice - Ishita Sengupta, PwC 12:55:40 PM
To resolve angel tax issue, no scrutiny on valuation aspects where appropriate reporting made in return of income -Sanjay Sanghvi, Khaitan & Co
12:55:20 PM
To introduce Pre-filled tax returns to have salary, capital gains, bank interest etc. will be collected from the relevant sources. Reduce the time spent in filing and increase accuracy of reporting. No human interface in assessment positive step - Frank D'Souza, PwC 12:54:46 PM
Additional deduction of Rs 1.5 lac per annum for interest paid on loans taken upto 31 March 2020 an amounting to Rs 45 lacs and below for buying residential houses - Franc D'Souza, PwC 12:54:13 PM
Pre-filled tax return forms coming - Ishita Sengupta, PwC
12:53:53 PM
Aadhaar and PAN interchangeable for income tax returns. - Ishita Sengupta, PwC
12:53:35 PM
Exemption for reinvestment of capital gains in start ups extended to 31 March 2020; Small home buyers - additional deduction of Rs 1.5 lakh for loans taken till 31.3.2020 for home value of max Rs 45 lakh - Ishita Sengupta, PwC 12:53:18 PM
To resolve angel tax issue, no scrutiny on valuation aspects where appropriate reporting made in return of income - Sanjay Sanghvi, Khaitan & Co 12:49:51 PM
Extensive incentives for start-ups in relation of investment and change of shareholding - Franc D'Sourza, PwC 12:49:37 PM
Pending tax disputes of start ups will be soon resolved by CBDT...very positive to reduce needless tax disputes - Sanjay Sanghvi, Khaitan & Co 12:49:22 PM
Meaningful support to Start ups : angle tax issue to be resolved : providing requisite details of investment received will not have tax issue in their tax assessments - Sanjay Sanghvi, Khaitan & Co 12:46:40 PM
Tax deduction for purchase e-vehicles through loans - Franc D'Sourza, PwC 12:46:05 PM
Investment linked deduction u/s 35AD to be available to mega manufacturing plants in electronic industry like semi conductors, lithium batteries and computer servers - Nikhil Rohera, PwC 12:45:50 PM
Very good move to allow the lower tax rate of 25% to companies upto annual turnover of Rs400cr. In number terms, they have reached extensively to small industries - Amar Ambani, YES Securities 12:43:06 PM
All companies having annual turnover upto INR 400 cr - Corp tax rate of 25% - Franc D'Souza, PwC 12:42:50 PM
Part B of Budget speech begins: The joy may be short-lived for stock market at least - Amar Ambani, YES Securities 12:40:11 PM
10 year gilts at 6.59% now on announcement of offshore sovereign bond - Lakshmi Iyer, Kotak Mutual Fund 12:39:31 PM
Good step to bring ETFs under tax-saving ELSS scheme, apparently under Section 80C - Lakshmi Iyer, Kotak Mutual Fund 12:38:14 PM
Govt recognising taxpayers citizens for their contribution to country.. great gesture by Govt - Sanjay Sanghvi, Khaitan & Co 12:37:17 PM
High disinvestment target of Rs 1.05 lakh crore and increase in public shareholding to squeeze liquidity from secondary market - Amar Ambani, YES Securities 12:36:44 PM
NBFC regulations to be strengthened with greater authority to RBI. Even housing sector regulatory authority shifts back to RBI. Means more streamlined regulations and implementation. - Franc D'Sourza, PwC 12:31:04 PM
This will offer the much-needed respite to NBFCs and help the ailing segment recover - Lakshmi Iyer, Kotak Mutual Fund 12:30:31 PM
Partial credit guarantee for buying pool of financially-sound NBFCs for first loss up to 10% and excellent move to help NBFCs - Lakshmi Iyer, Kotak Mutual Fund 12:29:40 PM
If increased public shareholding norm implemented, supply of paper in the market will increase. This will mean that money will be sucked out of secondary market and valuations will remain under check - Amar Ambani, Yes Securities 12:21:16 PM
Massive program for Railway modernisation - Sunil Jain, Nirmal Bang Securities
PM Modi has spoken in the past to have a show like Shark Tank in India to raise funds for Start-ups on DD - Amar Ambani, YES Securities 12:16:05 PM
New television channel to assist start-ups to show cause the business models, match making with the venture capitalists, funding and tax planning...interesting thought! - Sanjay Shangvi, Khaitan & Co 12:10:00 PM
Good move to rationalise labour laws - Ashish Shanker, Motilal Oswal
12:07:36 PM
An overhaul of education material is much needed. Its also a positive measure for companies in publishing space. - Amar Ambani, YES Securities
12:16:16 PM
Although not much to excite stock markets so far, by the end of the speech and surely in the coming days, the budget will have a positive rub off on market movement. - Amar Ambani, YES Securities
11:51:07 AM
Electricity and water for every household by 2024 is a great aspiration. This is on the back of housing for all scheme announced in prior budgets - Nikhil Rohera, PwC
11:50:50 AM
Good measures to boost FDI investment. Much needed to boost investments, when domestic savings languishing. - Amar Ambani, YES Securities
11:44:31 AM
Good measures to boost FDI investment. Much needed to boost investments, when domestic savings languishing. - Amar Ambani, YES Securities
11:38:39 AM
Budget is likely to pave the way for enhanced limits for FPI investment in govt debt, as savings rate is falling and bond yields are negative globally - Ashish Shanker, Motilal Oswal Wealth
10:57:34 AM
Finance Minister Nirmala Sitharaman today unveiled the Budget for FY20, seeking to reverse weakening growth and investment that threaten to take the shine off a recent landslide election victory.
Excellent move to levy 2% tax on cash withdrawal of over one crore rupees in a year. Will help in a more transparent digital economy - Amar Ambani, YES Securities 12:57:02 PM
TDS of 2% on cash withdrawals in excess of 1 cr in a year from a bank account - Ishita Sengputa, PwC 12:56:44 PM
E-tax assessments. Taxpayers should not get harassed by Tax Dept. A scheme of faceless tax assessmentn in electronic mode will be launched shortly. This will also reduce corruption - Sanjay Sanghvi, PwC 12:56:26 PM
Random allotment of scrutiny cases to tax offices. No indication of jurisdiction in the notice - Ishita Sengupta, PwC 12:55:40 PM
To resolve angel tax issue, no scrutiny on valuation aspects where appropriate reporting made in return of income -Sanjay Sanghvi, Khaitan & Co
12:55:20 PM
To introduce Pre-filled tax returns to have salary, capital gains, bank interest etc. will be collected from the relevant sources. Reduce the time spent in filing and increase accuracy of reporting. No human interface in assessment positive step - Frank D'Souza, PwC 12:54:46 PM
Additional deduction of Rs 1.5 lac per annum for interest paid on loans taken upto 31 March 2020 an amounting to Rs 45 lacs and below for buying residential houses - Franc D'Souza, PwC 12:54:13 PM
Pre-filled tax return forms coming - Ishita Sengupta, PwC
12:53:53 PM
Aadhaar and PAN interchangeable for income tax returns. - Ishita Sengupta, PwC
12:53:35 PM
Exemption for reinvestment of capital gains in start ups extended to 31 March 2020; Small home buyers - additional deduction of Rs 1.5 lakh for loans taken till 31.3.2020 for home value of max Rs 45 lakh - Ishita Sengupta, PwC 12:53:18 PM
To resolve angel tax issue, no scrutiny on valuation aspects where appropriate reporting made in return of income - Sanjay Sanghvi, Khaitan & Co 12:49:51 PM
Extensive incentives for start-ups in relation of investment and change of shareholding - Franc D'Sourza, PwC 12:49:37 PM
Pending tax disputes of start ups will be soon resolved by CBDT...very positive to reduce needless tax disputes - Sanjay Sanghvi, Khaitan & Co 12:49:22 PM
Meaningful support to Start ups : angle tax issue to be resolved : providing requisite details of investment received will not have tax issue in their tax assessments - Sanjay Sanghvi, Khaitan & Co 12:46:40 PM
Tax deduction for purchase e-vehicles through loans - Franc D'Sourza, PwC 12:46:05 PM
Investment linked deduction u/s 35AD to be available to mega manufacturing plants in electronic industry like semi conductors, lithium batteries and computer servers - Nikhil Rohera, PwC 12:45:50 PM
Very good move to allow the lower tax rate of 25% to companies upto annual turnover of Rs400cr. In number terms, they have reached extensively to small industries - Amar Ambani, YES Securities 12:43:06 PM
All companies having annual turnover upto INR 400 cr - Corp tax rate of 25% - Franc D'Souza, PwC 12:42:50 PM
Part B of Budget speech begins: The joy may be short-lived for stock market at least - Amar Ambani, YES Securities 12:40:11 PM
10 year gilts at 6.59% now on announcement of offshore sovereign bond - Lakshmi Iyer, Kotak Mutual Fund 12:39:31 PM
Good step to bring ETFs under tax-saving ELSS scheme, apparently under Section 80C - Lakshmi Iyer, Kotak Mutual Fund 12:38:14 PM
Govt recognising taxpayers citizens for their contribution to country.. great gesture by Govt - Sanjay Sanghvi, Khaitan & Co 12:37:17 PM
High disinvestment target of Rs 1.05 lakh crore and increase in public shareholding to squeeze liquidity from secondary market - Amar Ambani, YES Securities 12:36:44 PM
NBFC regulations to be strengthened with greater authority to RBI. Even housing sector regulatory authority shifts back to RBI. Means more streamlined regulations and implementation. - Franc D'Sourza, PwC 12:31:04 PM
This will offer the much-needed respite to NBFCs and help the ailing segment recover - Lakshmi Iyer, Kotak Mutual Fund 12:30:31 PM
Partial credit guarantee for buying pool of financially-sound NBFCs for first loss up to 10% and excellent move to help NBFCs - Lakshmi Iyer, Kotak Mutual Fund 12:29:40 PM
If increased public shareholding norm implemented, supply of paper in the market will increase. This will mean that money will be sucked out of secondary market and valuations will remain under check - Amar Ambani, Yes Securities 12:21:16 PM
Massive program for Railway modernisation - Sunil Jain, Nirmal Bang Securities
PM Modi has spoken in the past to have a show like Shark Tank in India to raise funds for Start-ups on DD - Amar Ambani, YES Securities 12:16:05 PM
New television channel to assist start-ups to show cause the business models, match making with the venture capitalists, funding and tax planning...interesting thought! - Sanjay Shangvi, Khaitan & Co 12:10:00 PM
Good move to rationalise labour laws - Ashish Shanker, Motilal Oswal
12:07:36 PM
An overhaul of education material is much needed. Its also a positive measure for companies in publishing space. - Amar Ambani, YES Securities
12:16:16 PM
Although not much to excite stock markets so far, by the end of the speech and surely in the coming days, the budget will have a positive rub off on market movement. - Amar Ambani, YES Securities
11:51:07 AM
Electricity and water for every household by 2024 is a great aspiration. This is on the back of housing for all scheme announced in prior budgets - Nikhil Rohera, PwC
11:50:50 AM
Good measures to boost FDI investment. Much needed to boost investments, when domestic savings languishing. - Amar Ambani, YES Securities
11:44:31 AM
Good measures to boost FDI investment. Much needed to boost investments, when domestic savings languishing. - Amar Ambani, YES Securities
11:38:39 AM
Budget is likely to pave the way for enhanced limits for FPI investment in govt debt, as savings rate is falling and bond yields are negative globally - Ashish Shanker, Motilal Oswal Wealth
10:57:34 AM
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