What are the benefits for HNIs in the new Direct Taxes Code?
The new Direct Taxes Code puts more money in the hands of individuals by raising the income slabs at which individuals would be taxed. It raises exemption limits available u/s 80C of the old Income Tax Act from Rs 1 lakh to Rs 3 lakh. This higher income would find its way into higher consumption, which would be positive for the manufacturing sector and thereby positive for stock markets. The new Direct Taxes Code discourages long-term investments (including investments in equities) by taxing capital gains at the marginal tax rate, which would be 30% for HNIs. Long-term capital formation in the country may get adversely affected by it Are you positive about any asset classes in the short to medium term? I am bullish on equities as underlying fundamentals are improving the world over. It would get reflected in strong earnings for corporates in the short to medium term. I am also bullish on certain commodities. I am bearish on gold and real estate in the short to medium-term Would you enc
