BUDGET 2012
1.Tax burden for individuals to come down: Income tax exemption limit raised from Rs1,80,000 to Rs2,00,000; 10 per cent tax for 2-5 lakh income; 20% for 5-10 lakh and 30% beyond Rs10 lakh; Savings bank account interest up to Rs10,000 exempted from tax.
2. Many services and goods to cost more: No change in corporate tax rate, but standard rate of excise duty, as also service tax rates, raised from 10% to 12%; No change in peak customs duty of 10% on non-agri goods.
3.Large cars, imported bicycles, cigarettes, bidis and some imported jewellery to cost more; branded silver jewellery may get cheaper.
4.Boost for capital markets: Securities Transaction Tax on cash delivery reduced by 25% to 0.1%; A new Rajiv Gandhi Equity Saving Scheme to allow income tax deduction to retail investors in stocks.
5. Economy expected to gain ground: GDP growth rate pegged at 7.6% in 2012-13; Subsidy Expenditure to be checked and higher tax revenues targetted; Rs30,000 crore to be raised from disinvestment.
6.Capital boost to financial and infrastructure sectors: Rs15,888 crore to be provided for capitalisation of public sector banks and financial institutions; Infrastructure investment of Rs50 lakh crore in 12th period, with half from private sector; Tax free bonds of Rs60,000 crore to be allowed for financial infrastructure projects.
7.Fight against black money: White paper on black money in current session of Parliament; Introduction of compulsory reporting requirement for assets held abroad; tax collection at source on high-value cash purchase of bullion, jewellery. immovable property and trading in coal, lignite and iron ore.
8.Greater scrutiny of closely-held companies for funds; Taxation of unexplained money, credits, investments, expenses at highest rate of 30% irrespective of income slab.
9.Tax reforms: Direct Taxes Code (DTC) at earliest; GST network to be operational by August 2012; Central Excise and Service Tax being harmonised. A General Anti-Avoidance Rule (GAAR) to be introduced to counter aggressive tax avoidance.
10.Attracting foreign funds: Efforts on to allow FDI in multi-brand retail and permitting foreign airlines invest in domestic players; External borrowings to the extent of $1 billion for aviation companies; Qualified Foreign Investors to get access to corporate bond market.
11.Tax relief for stressed sectors: Sectors like agriculture, infrastructure, mining, railways, roads, civil aviation, manufacturing, health and nutrition, and environment to get duty relief; Turnover limit for compulsory tax audit for SMEs raised from Rs60 lakh to Rs1 crore.
12. Farming for growth: Target for agricultural credit raised to Rs5,75,000 crore; Interest subvention for short-term crop loans to farmers at 7% interest continues; additional 3% for prompt paying farmers.
ON THE DAY OF BUDGET THE MARKET RULES BY SOCIO-POLITICAL SENTIMENT EVEN IN THIS TYPE OF MARKET PACE WAS ABLE TO GIVE MONEY TO THEIR CLIENTS. OUR CALL OF NIFTY GIVEN SHORT @ 5415 ACHIEVED RETURN @ FULLEST. OUR PAID CLIENT MADE RETURN OF RS.3500 PER TRADE
TODAY BANKING WAS THE BIG COUNTER TO TAKE OR GIVE MONEY. BUT PACE CLIENTS ARE ALWAYS AT SIDE OF MONEY LENDER. OUR CALL OF BANKINDIA MAKE THEN RICH BY 7500/LOT OF TRADE SHORT WAS GIVEN @ 382.50>>>>385>>>>390 THIS WAS THE PATH OF MONEY
