SMC Global Securities Limited

💰The Finance Minister's Budget 2024 introduced several significant changes impacting various sectors:1️⃣Hike in STT for F&O Transactions: The Securities Transaction Tax on futures and options has been increased by 0.02% and 0.01% respectively, causing Sensex and Nifty to fluctuate a bit.2️⃣Capital Gains Exemption: The exemption limit on certain financial assets has been raised to ₹1.25 lakh per year, benefiting the middle and upper-middle-class income groups.3️⃣Increase in Capital Gains Tax: Long-Term Capital Gains tax has increased from 10% to 12.5%, and Short-Term Capital Gains tax from 15% to 20%.4️⃣Infrastructure Spending: The government has maintained infrastructure spending at 3.4% of GDP, amounting to ₹11.1 lakh crore.5️⃣Abolishment of Angel Tax: The angel tax for all classes of investors in startups has been abolished to boost the startup ecosystem.6️⃣Reduction in Custom Duty for Precious Metals: Basic customs duty on gold and silver has been reduced to 6%, and on platinum to 6.4%.__👉 Disclaimer: Investments in securities market are subject to market risks, read all the related documents carefully before investingMutual Fund investments are subject to market risks, read all scheme related documents carefullyPMS is not offered in the commodity derivative segment. Insurance is the subject matter of solicitationRegistration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors #smc #smcglobal #investing #budget #2024 #unionbudget