The Union Budget has bought a lot of changes in the financial market. Finance Minister – Pranab Mukherji surprised everyone with his speech on the new scheme aimed at bringing new investors into Equity market through tax-incentives. Although detailed working of the scheme is yet to be out, at the basic level, the scheme would allow for income tax deduction of 50% to new retail investors, who invest up to Rs 50,000 directly in equities each year. Not only is this, at the outset, the scheme is first of its kind that gives direct incentives to equity investment through tax sops.
By introducing a new scheme, the budget has also given some relief to tax payers in the form of hiked income tax exemption limit and also made some changes in the tax slabs!
It doesn’t end here, for all those who have a Savings Bank account; the budget has proposed a tax free income of upto Rs.10, 000 in your savings bank. Click on the article attached below to know what financial planners have to say about this.
2012 Union budget also brings a smile to fresh retail investors. The budget has launched various investor friendly initiatives, which can be a win-win situation for all new retail investors.
This was just a gist, to know how Union Budget has affected the Indian financial market in detail, click > http://www.indiainvestkaro.com/toi_pdf/TOIM_2012_3_20_17.pdf
