Lets discuss how this impacts investments and taxability for Indian residents and NRI's.
1. IT exemption limit raised marginally so more income in every tax payers pocket.
2. Gold bars tax limit increased, making gold more expensive. The process of laundering black to white using gold also becomes more expensive.
3. Service Tax increase of 2% passed down to end users
4. Cars become expensive due to increase in excise duty
5. Electronics less expensive as the import duty is cut marginally
6. TDS for real estate transactions. This is a big one.
7. I don't understand how real estate capital gains become tax free after one year.
8. The first step for Indian government to tax all global income is proposed by the FM where NRI's/Indian residents are mandated to report foreign ownership of assets held abroad. Hell if the US government can do it, so can the Indian FM
9. Rail budget has increased Freight rates which directly inflates the cost of everything including steel, cement, coal
10. Coal prices are expected to increase in April which causes electricity prices to be hiked.
11. Petrol/Diesel will soon rise now that UP elections are behind us.
Instead of presenting the budget the FM should just increase the cost of everything by 10% every year. It will save us the trouble of analyzing
Please add comments and I will roll all salient points into the main post
1. IT exemption limit raised marginally so more income in every tax payers pocket.
2. Gold bars tax limit increased, making gold more expensive. The process of laundering black to white using gold also becomes more expensive.
3. Service Tax increase of 2% passed down to end users
4. Cars become expensive due to increase in excise duty
5. Electronics less expensive as the import duty is cut marginally
6. TDS for real estate transactions. This is a big one.
7. I don't understand how real estate capital gains become tax free after one year.
8. The first step for Indian government to tax all global income is proposed by the FM where NRI's/Indian residents are mandated to report foreign ownership of assets held abroad. Hell if the US government can do it, so can the Indian FM
9. Rail budget has increased Freight rates which directly inflates the cost of everything including steel, cement, coal
10. Coal prices are expected to increase in April which causes electricity prices to be hiked.
11. Petrol/Diesel will soon rise now that UP elections are behind us.
Instead of presenting the budget the FM should just increase the cost of everything by 10% every year. It will save us the trouble of analyzing
Please add comments and I will roll all salient points into the main post
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