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Real estate investors want tax scams
Home buyers expect the interest limit on home loans for tax refund to be raised to Rs 5 lakh from Rs 2 lakh at present. They also expect a reduction in the capital gains tax rate. In addition, at present, Section 80 C of the Income Tax Act does not provide for a targeted benefit on housing, which is the largest and most important expenditure item for the most taxpayers over their lifetime. They expect a separate annual deduction of Rs 150,000 for principal repayments.
Small investors demand the abolition of the STT
The economic survey released on Monday suggested an increase in retailer participation in the stock market. Smaller investors, especially those new to trading, would consider a removal of STT. So far, the STT on transactions without delivery is 0.025% and for delivery 0.1%. The STT is levied even as the 2018 budget brought back the LTCG, which is levied at a rate of 10% on annual earnings of more than Rs 1 lakh.
Crypto investors seek clarity on taxation
The government has not yet found a concrete solution on the taxation of cryptocurrency under the income tax law or the GST law. Analysts said the government may consider classifying cryptocurrency as a “capital asset” / “trading asset” and provide clarification on the taxation of income derived from the purchase and sale of this currency. It may establish valuation guidelines with the aim of ensuring that income generated from the sale of such currencies is taxed appropriately.
Expect a budget that has fiscal consolidation “in spirit” but focuses on growth “in intent”
– Sonal Varma, Nomura India
Budget 2022: new pressure for divestments is likely, according to Jefferies
Jefferies is also seeing a new surge in divestments. He considers BPCL, Concor, SCI, BEML and IDBI Bank as the main candidates for sale. This brokerage also sees the FY22 budget deficit slightly below the 6.8% target and anticipates the FY23 target at 6.4%.
Budget 2022 | Deutsche Bank sees capital expenditure jump
Deutsche Bank forecasts a 7% deficit for FY22 against the target of 6.8%, but the target for FY23 is 6.5%. This brokerage expects capital expenditure to be increased to 5.5-6 lakh crore for FY23 from 5.5 lakh crore allocated for FY22.
Government must strike balance between boosting rural demand and investing in infrastructure: Goldman Sachs
Goldman Sachs said the government needed to strike a balance between boosting rural demand and investing in infrastructure. This brokerage firm expects continued focus on social spending. That said, the brokerage expects the budget to continue on the path of fiscal consolidation and sees the center’s deficit target at 6.3% of GDP.
Adani Ports Q3 Preview: Profits May Drop by Up to 30%
Adani Ports & SEZ is expected to see a decline of more than 20-30% in net profit for the December quarter, partly due to foreign exchange gains in the year-ago quarter. Sales are expected to fall single digits, analysts said. Freight from the company (formerly Gangavaram) decreased by 12% year-on-year to 67.2 million tonnes. Containerized freight remained stable year-on-year. All eyes would be on the management volume forecast for FY22, given the weak freight performance in the September and December quarters.
Budget 2022: what does the Eco survey allude to?
Marketers and economists said today’s would be the budget that has fiscal consolidation “in spirit” but focuses on growth “in intent”. Even though the survey raised concerns over high inflation, the government would remain pro-growth in its budget and focus on higher spending for higher economic expansion, given that it forecast encouraging growth. GDP for FY23 from 8 to 8.5 percent, said Mitul Shah, head of research at Reliance Securities.
History hints at wild swings for the market today
In the past 10 Budgets (excluding 2019, 2014 Interim Budgets), Nifty50 has fallen seven times on D-Day. In addition, recent years have seen extreme volatility on Budget days, as suggested by daily movements in the indices. For example, Nifty50 moved in a 4.9% range last year on budget day, where it eventually closed the day up 4.7%. On February 1, 2020, the index ended down 2.5% after trading in a wide range of 3.3%.
FM at table Budget at 11 a.m.
Finance Minister Nirmala Sitharaman will present the Union Budget 2022 at 11 a.m. Usually, the duration of the presentation varies from 90 to 120 minutes. But Sitharaman’s 2020-21 budget speech was the longest in terms of duration in independent India’s history. It took about two hours and 40 minutes!
SGX Nifty Signals Early Spread
Nifty futures on the Singapore Stock Exchange traded 167 points, or 0.96%, at 17,515.50, signaling that Dalal Street was heading for a gap start on Tuesday.
Tech View: Nifty holding above 17,250 key to the upside
On Monday, the Nifty50 saw some resistance near its 50-day moving average as the index only managed to make marginal gains after beginning to gap. The index formed a small bullish candle on the daily scale. Analysts said the index may continue to face resistance around the 17,350 level as they see immediate support at 17,250.
Australia share higher advantage in choppy trade ahead of RBA result
Australian shares edged higher in choppy trading on Tuesday after tech stocks trailed a robust Nasdaq session overnight, even as investors cautiously awaited the expected Reserve Bank of Australia’s monetary policy outcome. later in the day. The S&P/ASX 200 index rose 0.2%, or 17.4 points, to 6,994 as of 12:30 GMT, after falling 0.1% earlier in the session. The benchmark index closed down 0.2% on Monday.
Tokyo stocks open higher with eye on earnings
Shares in Tokyo opened higher on Tuesday, following gains on Wall Street, with investors keeping an eye on upcoming corporate earnings reports. The benchmark Nikkei 225 rose 0.59% or 160.52 points to 27,162.50 in early trading, while the broader Topix index rose 0.57% or 10.74 points to 1,906.67.
Biden releases infra ‘roadmap’ to help spend $1 billion
US President Joe Biden on Monday urged US governors to accelerate their construction plans as his administration rolled out a guide to accessing the nearly $1 trillion made available by the bipartisan infrastructure deal. Biden hosted the governors at the White House as part of the National Governors Association’s winter meeting, and he cajoled them on the importance of infrastructure.
U.S. stocks rise
U.S. stocks posted large gains on Monday but still posted their worst monthly loss since the early days of the pandemic, as Wall Street closed a tumultuous January wracked by fears that impending interest rate hikes interest does make everything in the markets more difficult. The S&P 500 rallied from an early decline to close 1.9% higher. The Dow Jones Industrial Average rose 1.2% and the Nasdaq composite climbed 3.4%, its biggest one-day gain since early November 2020.
Rupee records its best day in 12 weeks
The Indian rupee recorded its biggest single-day rise in 12 weeks on Monday as it jumped 42 paise to 74.65 against the US dollar, in line with positive regional currencies and buoyant domestic stocks. In the interbank FX market, the local unit opened strong at 74.97 against the greenback and saw an intraday high of 74.60 and a low of 75.05. It eventually stabilized at 74.65, up 42 paise from its previous close.
Sensex, nice on Monday
Benchmark equities posted strong gains on Monday after a two-session slippery streak as the economic survey’s healthy growth projections and supportive global indices enthused investors. The index closed at 58,014.17, registering a gain of 813.94 points or 1.42%. Similarly, the broader NSE Nifty rallied 237.90 points or 1.39% to end at 17,339.85.