Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT Audit :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT RATES :: form 3cd :: cpt :: empanelment :: due date for vat payment :: ACCOUNTING STANDARD
Budget Extravaganza »
 Govt may abolish dividend distribution tax in budget
 Budget making in the GST era: paradigm shift
 Budget 2018: Section 80C limit may be increased
 Middle Class Can Hope For A Big Tax Relief In Budget 2018-19, Says Report
 Startup investors seek abolition of angel tax in Budget 2018-19
 Budget 2018 must avoid the temptation to bolster government revenues myopically
 How GST has taken away the wind out of the Union Budget presentation
 Seeks to amend certain customs notifications in pursuance to change made in Budget 2017-18.
 New look finance ministry team to frame contours of Budget 2018
 How presenting the Budget early seems to be paying off already
 Budget advancement helps Centre, states start spending early

Uncertainties curtail Budget rally
February, 26th 2010

Markets gave a thumbs-up to the budget. Measures such as the fiscal roadmap and the changes in the personal income tax slabs were sentiment changers on Dalal Street. The Sensex in fact, rallied by more than 400 points immediately after the Budget speech, but came off towards close as the extended weekend and uncertainties in global markets weighed on sentiment. The Sensex finally ended at 16430, higher by 175 points and the Nifty closed at 4922, up 63 points.

The finance minister Pranab Mukherjee laid down a roadmap for bringing down the fiscal deficit from 6.9 per cent in the revised estimates for the current fiscal. He has pegged the FY12 fiscal deficit at 4.8% of GDP and the FY11 fiscal deficit at 5.5%. And the market borrowings for the next fiscal have been pegged at Rs 3,45,000 crore.

The personal tax slabs have been reworked. There will be no income tax on personal income up to Rs 1.60 lakh per annum, while Rs 1.6-5 lakh would attract a tax of 10 percent and income between Rs 5 lakh and Rs 8 lakh would involve a tax of 20 percent. Income in excess of Rs 8 lakh would be taxed at the rate of 30 per cent.

The finance minister set a divestment target of Rs 25,000 crore in FY10. Moreover, he exuded confidence about introducing Goods and Services Tax (GST) and Direct Taxes Code (DTC), albeit with a delay of a year, from April 1 next year. He also promised to improve food security and healthcare, and introduce a Food Security Bill in Parliament soon.

Auto stocks surged as the FM hiked the excise duties on MUVs, SUVs and large cars from 8% to 10%, while leaving the small cars and two-wheelers untouched. Tata Motors appreciated by 6.3% at Rs 711, Bajaj Auto moved up 6% at Rs 1,817, M&M added 5% at Rs 1007 and Maruti added 4.4% to Rs 1,463.

The renewed trust on infrastructure,  with an allocation of Rs 19,894 crore for road transport, rubbed on to metal and realty stocks.  Hindalco strengthened by 5.3% at Rs 161, Sesa Goa added 5.4% at Rs 399 and Tata Steel gained 1.1% at Rs 573. And in the infrastructure space, Lanco Infra gained 3% at Rs 45, Gammon India  added 2.2% at Rs 218 and Madhucon Projects strengthened by 4.4% at Rs 161.

Measures to reign in the fiscal deficit had a positive impact on the banking sector. SBI (stronger by 3.2% at Rs 1975), ICICI Bank (higher by 2.4% at Rs 871) and HDFC Bank (up 1% at Rs 1,704) were the major gainers in this space.

And with the government increasing the excise duties on all non-oil products by 2 per cent to 10 per cent and on petrol and diesel by Rs 1 a litre, as part of withdrawal of stimulus measures, Reliance Industries strengthened by 1.4% at Rs 978 and Cairn India added 3.2% at Rs 266.

And fertilizer companies gained after the Finance Minister proposed to provide government subsidy for fertilizers in the form of cash instead of bonds. Tata Chemicals (up 2.6% to Rs 288) and Nagarjuna Fertilizers & Chemicals (up 0.9% to Rs 32) ended higher.

However, cigarette maker ITC tumbled 6% to Rs 232 as the finance minister raised the duties on smoking and non-smoking tobacco products. And Tata Power Company fell after disappointing consolidated earnings for the third quarter.

The market breadth was strong. out of 2874 stocks traded on the BSE, there were 1848 advancing stocks as against 942 declines.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions