Budget 2017 was a highly targeted one. The halving of the tax rate for the 10 percent tax slab (to 5 percent) was one of the few goodies it offered to all and sundry. It instead enacted sector or group-specific measures such as tax cuts for small business, stake sales in railways companies such as IRCTC and tightened curbs on on cash transactions. It also offered relief to the beleaguered real estate market.
For those of you who’d like to get a general flavour of the budget, here it is:
- Its abolition of the FIPB and announcement of tight fiscal deficit target of 3.2% underlined a generally reformist tone
- It proposed the banning of cash transactions over Rs3 lakhs and curbs on cash donations to charitable trusts and political parties
- To real estate sellers, the budget proposed a lower holding period for the long term capital gains tax and a revised indexation date
- To stimulate housing, it accorded ‘infrastructure status’ to affordable housing and relaxed the area norms for developers to avail of previously announced benefits for affordable housing
The devil as they say, lies in the details. To get an idea of what they are and mean to you, join us on this week’s Money Hangouts session with your queries.
What does Budget 2017 mean for you?
Date: Friday, Feb 03, 2017
Time: 12:30 PM - 1:00 PM
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