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Arnav Pandya | Financial Planner
Questions Answered
Arnav Pandya: Welcome to the chatvishwasjoshi@in: Good morning Sir, Whats your view on Rajeev Gandhi Equity scheme? Is it the best way to invest in this scheme?
Arnav Pandya: This scheme is meant for first time investors so if you fall into the category then you should make use of the scheme to start your equity investment journey.girish32: is their any chance of increase in income tax limit to 3 lakhsfor individuals
Arnav Pandya: There might not be such a high rise in the basic exemption limit but a small rise can be expected.hareshgala88: Sir what exactly is a revenue deficit?
Arnav Pandya: The excess of revenue expenditure over revenue income is known as the revenue deficit.shivaduri: a question which is in my mind since long time , can any body comment on this: Past so many years the cost of commodities increased (the approx increase is 200 % 500 %), but still the tax limit is restricted Rs. 2, 00, 000, /-. This should be increased according to increase in rates of all goods. At this stage if we exempt Rs. 10, 00, 000, /- still our government will get profits.
Arnav Pandya: The rise in the basic exemption limit is required but the government also has financial constraints so expect some action accordingly.ramasubramaniam: Do you think there should be a super tax to tax the rich people even more?
Arnav Pandya: A tax on the super rich depends upon how the super rich is defined. It is necessary for the rich to contribute more to the economy.swaminathan: Should women be given more tax exepmtiions?
Arnav Pandya: Women should get some additional tax benefits like it was some time earlier through some more deductions.ramasubramaniam: Should there be inheritance tax on everyone
Arnav Pandya: Inheritance tax should be present only above a certain limitswaminathan: If plan expenditure has been increased is this good or bad. Or will tax be just increased to fund it
Arnav Pandya: Increase in plan expenditure is good as it is likely to be more productive over a period of time.mumbai.com: Sir, How much the personal income tax contributes to total revenue?
Arnav Pandya: Personal income tax was around Rs 195,000 crore out of a total tax revenue of Rs 10,77,000 crore annettea: What is disinvestment and why does the govt do this?
Arnav Pandya: Disinvestment is the sale of the stake of the government in various entities to other investors to raise money.annettea: What is your take of FD tenure? do you think it need to reduce to 2-3 yrs from currnet 5 yrs. thks
Arnav Pandya: Reduction in the lock in on tax deduction fixed deposits of banks will make them more attractive for investorsdivinity: It is not good strategy to change tax rates and slabs at each and every budget and consistency should be the prime concern. Do you agree.
Arnav Pandya: Yes consistency in the tax rates and slabs is very important to raise confidence of people in the tax system over a period of time.777.com: Arnavji please explain the term tax revenue to me
Arnav Pandya: Tax revenue is the income raised by the government from levying taxes like income tax, excise duties, corporate tax, customs duty and service tax.dsawant: As this is a last budget for this govt. what are the positives do you think will come out for aam admi?
Arnav Pandya: Several additional benefits like inflation indexed bonds/NSC, higher benefit of deduction for new house purchase upto Rs 15 lakh have been announced.timir1986: Can you throw some light on the measures just announced for housing loan
Arnav Pandya: A first time buyer who buys a house upto Rs 25 lakh will get an additional tax deduction of Rs 1 lakh above the Rs 1.5 lakh available currentlydees62: Tax Free Bonds..How do you see the impact ?
Arnav Pandya: You can invest in the next financial year in tax free bonds so planning for this can be made in your overall financial plan.777.com: Hello, what is non plan expenditure? Is this un-necessary expenditure spent by the government?
Arnav Pandya: This is the amount spent by the central government for the day to day running of the country and it is based on what the priorities of the government are. diptitea: hello sir, reduction in STT will increase partcipation of people in equity market?
Arnav Pandya: It should increase participation to some extent but it is not the only factor that impacts the investors decision especially long term investors.hareshgala88: Sir, What are subsidies and are they supposed to be good or bad?
Arnav Pandya: These are the amounts spent by the government to provide goods and services to the people of the country at prices that are lower than what is actually prevalent in the outside market. There are various areas in which the subsidies are spent and this includes food, fertilisers, petroleum products and the lower the subsidies the better it is for the economy. 777.com: Sir, from the budget point of view what really does debt servicing mean?
Arnav Pandya: The amount of debt servicing of the country that is mentioned in the Union Budget consists of the total of the capital repaid during the year along with the interest payments made on loans. This shows the amount that is spent in managing the debt of the country. rnp_111: Everyone is talking about fiscal deficit and also see that a lot in the newspapers. What does this mean
Arnav Pandya: This is the difference between the total expenditure of the government in a year and the revenue receipts and the recoveries of loans. This also represents the amount that the government will have to borrow to fund its shortfall. The lower the revenue deficit the better it is for the country. rp241981: Sir please explain what is primary deficit
Arnav Pandya: This is the amount that is arrived at when the fiscal deficit is reduced by the interest payments for the year. It shows the amount of the deficit that arises on account of the activities other than the interest payments and a large difference between the fiscal deficit and the primary deficit is a worrying sign that interest payments have become very large in the economy.balirams: What are exactly are deductions and how to calculate it
Arnav Pandya: This refers to the amounts that will be allowed as a reduction from the total taxable income of the taxpayer. The final tax is calculated on the taxable income after considering the deductions so this helps to reduce the taxable income and consequently the tax to be paid and hence deductions are eagerly awaited by all taxpayers so that they can make the most out of it.