Investors too are hoping for some positive steps like expanding the scope of RGESS â€“ Rajiv Gandhi Equity Savings Scheme.
A little over a month back, in December 2012 the Securities Exchange and Board of India (SEBI) pronounced norms (vide ac circular) for investing in the Rajiv Gandhi Equity Scheme (RGESS). It clarified which securities would be eligible for availing tax benefit under the aforesaid scheme.
The financial year 2012-2013 is almost coming to its end now. Many investors will seek various avenues in order to save taxes. Year-end tax planning strains finances if decisions are made in a hurry. Financial expert Jitendra Solanki shares few tips which will help investors make better last minute decisions.
After unleashing a slew of reforms last week, the government seems to be on an over-drive.
The finance ministry is likely to notify the norms for Rajiv Gandhi equity scheme mutual funds and guidelines for issue of rupee denominated infrastructure debt bonds in the coming days.
CNBC-TV18's Aakansha Sethi reports that mutual funds and ETFs are likely to receive tax deductions under the Rajiv Gandhi Equity Scheme.
The Finance Ministry is likely to launch the Rajiv Gandhi Equity Scheme, which is aimed at boosting retail investments in the capital market, by August 15.
AMFI in India is lobbying with the finance ministry to secure an exclusive mandate to implement the Rajiv Gandhi Equity Scheme (RGES), a tax-efficient investment plan for retail investors that was introduced in the Union Budget.
As the Union Budget 2012 did not propose too many tax changes, financial planner Gaurav Mashruwala said he was disappointed as expectations were not met.
CNBC-TV18’s Sajeet Manghat and Shruti Rajkumar spoke to experts to assess the possible success of the the Rajiv Gandhi Equity Scheme.
Sunil Godhwani, chairman and managing director of Religare Enterprises says that the market respects that the FM has delivered a realistic Budget.
Finance Minister Pranab Mukherjee has slashes the Securities Transaction tax, STT by 20% on all delivery transactions to 0.1% as against the existing 0.125%.
Finance Minister Pranab Mukherjee in his Budget speech proposed 50,000 tax exemption for retail investors. He also announced new tax exemption for retail investment with lock-in and tax exemption on individual share investment below 10 lakh.
The Finance Minister is likely to hike excise duty in a calibrated manner and cut withholding tax for interest payments by FIIs for long-term infra bonds, reports CNBC-TV18's Aakansha Sethi.
Government sources tell CNBC-TV18 that Budget 2012 may have a few positive announcements for equity markets.