CapitalVia's Post Budget Comment

Mr. Rohit Gadia, Founder and CEO, CapitalVia Global Research Limited, Interim budget is not expected to have any major impact in the economy apart from few positive impacts on the auto sector. As the tax rates has been kept same and no other major changes has been brought in, I think this budget was basically a safe play from the existing government. There's some good news for the Auto company and Capital Goods as the excise duty was cut for small cars to 8 percent from 12 percent earlier, 20 percent on large and mid-segment cars and excise duty has been reduced to 24 percent from 30 percent earlier on SUVs. Rich people who earn more than rupees 1 crore a year will have an extra impact as per the budget as they have to pay a extra 10 percent surcharge on their income. The finance minister exempted rice from the service tax ambit which now stands at 12%.

There was no change in corporate rate tax rate for domestic companies and foreign companies which stand at 33.99% and 43.26% percent respectively.

CapitalVia Global Research Ltd. is a pure play research company focusing on Technical Analysis that provides real time financial markets recommendation to its customers for intra-day and short term trading on real time data.

Source : Equity Bulls

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