Buget 2024 Tax increased on shares and gold
As soon as the news of tax comes, there is an atmosphere of chaos. The work done by the government by imposing taxes here and there and giving some relief here and there, will it increase the income of the people or will it increase the income of the government, will this budget bring more money in the hands of the people?
Buget 2024 Tax Increased On Shares And Gold| What Is The Updated 2024 Budget
People with jobs are busy calculating that if 17500 is saved from tax, then what will they do with this money, where will they go, what will they buy, so much money has been saved that they are unable to understand whether to invest it in the stock market or buy gold or buy a flat because this budget has brought a big shock for the people working hard in the stock market, the people who are engaged in the stock market all day, they also work very hard.
Now this class has changed a lot, after Covid, large numbers of villages, towns and ordinary people have come into the stock market, due to which the base of the market has also become very big, the crowd of people in the stock market has increased.
But of course there is a section of professionals and big investors:- and players who are masters of the stock market,
But Common people are also included in those who invest in Gold Bond Equity Mutual Fund, who started acting like the stock market and started cutting interest rates in banks. There was no increase in income, so people started acting like the stock market to save and increase their money. Now the long term tax on all types of assets has been made 12.5%.
But this decision has started having a similar effect on every player of the
Stock Market :-
Because it is very difficult to say whether such new investors or common investors will be happy with this. In this budget, the long term capital gain tax on the earnings from shares sold after 1 year has been increased from 10% to 12.5%.
If you saved shares 1 year before buying them, then now you will have to pay capital gain tax of 20% instead of 15%.
But when corporate tax was exempted, then these people did not say why only them, give us exemption too. In 2019 also corporate tax was reduced. In the tax war, the share of personal income tax kept increasing and the share of corporate tax kept decreasing. Here it was also criticized, but the government The exemption given in corporate tax was not withdrawn
But from common people to special applicants, everyone got caught in the trap
First of all, common people are told to invest here, there will be no tax here, there is no interest there, the entry fee is very high here, you do not get entry fee by keeping money in the bank, if you get it, then it is very low, that is why you people should invest money in the share market, here the income and tax is also very low and everyone gets trapped in this kind of trap and everyone starts running after Sensex and Nifty 50 But when after the budget, common people add tax, tax is imposed in the beginning itself, if you people had known beforehand, you people would have become cautious and you people would not have gone in a crowd like this.
One thing is understood from this that if you people run like this, you people will be surrounded there and then tax will be imposed on you.
People who are making immense wealth through investment, but the salary class also invests in gold and house in the share market, their income is not increasing, but now the government will have to pay 12.5% tax on the capital gain of every kind of asset.
If they buy gold and sell it after two years, then common people will also be affected in that, but there will be a tax burden on that too or tax will be imposed.
Common man, who has some gold in his bad times, mortgages the gold or sells it to solve his problem, but the government is also behind all this to collect tax.
Here the leader of Congress says that:-
The bills which came and went have almost stopped, the income of the people and the increase which came, The income of people seems to be the same for almost 6 years.
From 2017 to 18, between 18 to 23, those who are self-employed earn 12000 to 18000 rupees per month. Those who do daily wage work earn around 7500 and the labourers earn 19760 rupees. Our demand has always been that in our manifesto, the minimum income of every category should be ₹400 per day. The wages of those who come in this category should be fixed at ₹400 per day. The Congress leader said that we had put this in our manifesto.
But the reality is that apart from zero to 20% tax package, no relief has been given to any kind of tax payer and especially the daily wage earners who do not come in the tax package, who are poor and struggling with poverty, whose income has not increased in the last 6 years, there is no relief of any kind for them. has been given
Here the Prime Minister :-said that this budget is going to give relief to the taxpayers. The NDA government
Said that in the last 10 years it has been ensured that the poor and the middle class continue to get relief from taxes. In this budget also, a decision has been taken to cut and increase the income tax.TDS regulations have also been made simpler.
Apart from this, the tax on foreign companies has been reduced in the budget, from about 40 to 35%, so that capital comes from abroad, then see how many types of taxes are there in the companies, according to the news of June 2024, according to the RBI, the net FDI coming to India fell by 62% in 1 year and came down to about 10 billion dollars, which is very low since 2007.
In self-reliant India, it is not only that you become self-reliant, but it is also that Chinese companies come here to sell their goods and also take advantage of the tax. Those who call the face of India’s economy rosy by looking at the face of the stock market, nowadays the thorns are looking sharp like the thorns of the rosy. This budget was for the alliance and was taken together. But after this budget, there is a lot of tax in the whole of India
Conclusion:- In this article, I have written about the budget of 2024, in which I have written about the increased tax on the stock market and gold and other taxes. How did you like reading the article here, please tell us by commenting. Thank you