These are the latest union budget highlights. Gear up to enjoy subsidies, pay newer taxes and enjoy greater freedom, as that covers a major part of the Union Budget 2017. Capital Gains Tax Capital gains tax arises from Securities Transaction Tax or the STT. All eyes are on the proposals, the government has announced on Capital gains tax. If you hold shares and securities and wish to sell them off before 6 months you would be entailed to pay up short-term capital gains tax to the tune of 20 %. The short-term capital gains tax previously stood at 15 %. Long term securities can entitle investors to earn an additional dividend of 10 % over and above the accrued dividends on deposits or mutual funds. Junk food and sweetened substances can trigger your taxes In a bid to control lifestyle diseases like obesity or diabetes, the government is planning to increase taxes on junk food, sugary drinks or sweetened substances. Quite a lot of lung or chronic diseases are caused on account of active or passive smoking. Your incidence of tax will increase if you consume fast foods like pizza, donuts, sugary treats, etc. The proceeds of higher taxes on sugary food or saturated processed foods will be spent on providing a fleet of health services the government will provide the public with. Government can accord infrastructure status to low-cost housing In order to provide housing facilities to the lower strata of the society, the government would have to accord 'infrastructure status ' to the low-cost housing society. By initiating this scheme, quite a lot of investors, property developers and home building aspirants can be benefited greatly. The government under the Pradhan Manthri Aawas Yojna will also be providing us with affordable concessions and lower interest-rates on building houses. You can expect the official announcement to be made during the upcoming budget. Union budget on February 1st would be like no other You all must have heard of the Prime Minister 's Year end speech. The upcoming Union Budget 2017 is expected to be a phenomenal one like no other. The Prime Minister is going to announce fabulous schemes for farmers, small-scale artisans and entrepreneurs who are responsible for contributing more than 90 % of the nation 's wealth. The Union budget is expected to create plenty of job opportunities, provide basic income for the poor, and offer attractive housing facilities and so on. Equity Market trend The Union Budget 2017 will be the key-event to determining the short-term market trend. The way the US policy unfolds under the new government (As newly appointed President Donald Trump is making terrific moves on US trade and bilateral agreements policy) can also act as a catalyst favoring market growth. It is expected that the equity markets will remain choppy for the next two to three quarters. The economy is still under the realms of demonetization. By the end of 2017, we are expecting the cash inflows to improve drastically. The economic markets would then improve a great deal and the corporate earnings would also recover. We are thus viewing a bullish trend over the three year horizon. With recently announced hiked up short-term capital gains tax, things can get trickier at the stock markets. Higher tax-breaks on home-loans likely forming part of the Union Budget 2017 The Government is planning to give better tax incentives on home-loans. In order to boost demand and prop up the faltering realty sector that has presently been hit by demonetization, this measure has been taken. Things can get better. Quite a lot of people would invest their money in buying plots, townships and apartments. If you pay realty interest of more than 2 lakh, you are entitled to receive higher tax concessions.The measure is expected to provide a fillip to the employment intensive segment. The above mentioned move can please tax payers as well. The government is also expecting a massive inflow of deposits by providing pare interest rates to aspirants wishing to take home-loans. The reduced interest rates on home-loans can benefit the poor as well as the affluent households. Reduced corporate taxes help India provide quality goods promoting exports and supporting the domestic industry as well.We have thus covered all spheres of the economy. Watch new updates on latest union budget highlights to know what else lies in store.
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