23 September, 2020

One More To Bingo

The investor can breathe easy. The election season budget pops no big irritants for him.

One More To Bingo
Call it the democracy dividend. The last day of every February makes you wary of nasty surprises in the form of higher and new tax proposals tucked in the finance minister's briefcase. This year, thanks to the impending polls, there isn't much in the budget that will displease you as an investor. If you are trying to figure out how the budget proposals will impact your existing and future investments, the answer starts right from the substantial changes in the individual income tax slabs that P. Chidambaram has proposed. The changes will ensure tax savings that will free up more money for your fresh investments.

Tax-saving investments form a vital part of the investment efforts of most Indians, especially city-dwellers. Under existing provisions, you can get tax deductions of up to Rs 1 lakh—the amount that will get deducted from your gross income—for a range of investments; be it the safe and 8 per cent per annum, providing Public Provident Fund and National Savings Certificate or notified tax-saving bank deposits that return up to 9...


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