Money on the markets

A maturing market amid the mayhem

Are you happy with the direct tax code?

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The much-awaited direct tax code bill, aimed at simplifying the country’s archaic direct tax laws, was passed by the cabinet on Thursday, with new income tax slabs being proposed for individuals.

Though these slabs will put some extra money in taxpayers’ pockets as compared to existing slabs, the original slabs proposed in the first draft of the direct tax code have been diluted.

The original code proposed that income up to 10,00,000 rupees would be taxed at the rate of 10 percent, but the tax slabs announced on Thursday propose a tax of 20 percent for income between 500,000 – 10,00,000 rupees and a tax of 10 percent on income between 200,000 – 500,000 rupees.

The new proposal exempts income up to 200,000 rupees from taxes. For senior citizens, the basic exemption would be hiked to 250,000 rupees.

SEBI nod not needed for ULIPs: Would you invest now?

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The finance ministry on Saturday said life insurers could sell unit-linked insurance plans without seeking a nod from the Securities and Exchange Board of India (SEBI).

A stockbroker uses his terminal to trade at a brokerage firm in Mumbai September 30, 2008. REUTERS/Punit Paranjpe/Files

This ends a spat between regulators over the much sought after product. Under the law, such orders issued when parliament is not in session must be confirmed by lawmakers in their next sitting.

How to rate the budget?

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INDIA-BUDGET/When the finance minister presents the budget, the stock market moves one way or the other.

And like every year this will dominate the news.

Over there and everywhere.

Is that fair? Or convincing?

Some of the analysis will follow a pattern.

If the stock market goes up, the budget may be described as successful because it didn’t “rock the boat”.

Sensex closes above 15000

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The BSE Sensex seesawed today, erasing early losses of as much as 1.8 percent, and finally closed above the 15,000 mark on hopes of a revival in the economy. Higher European markets also helped lift investor sentiments.

The 30-share sensitive index of the Bombay Stock Exchange swung from an intra-day low of 14,601 to an intra-day high of 15,026, and finally closed 137 points up at 15,008. The fifty-share Nifty ended 0.93 percent up at 4572.INDIA-STOCKS/JUMP

Sensex gains in choppy trade; stress test results eyed

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The BSE Sensex closed 1.37 percent higher on Thursday, tracking a rally in global markets on ebbing concerns about the health of the financial sector and the global economy.

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Trade was volatile and the benchmark closed 164.19 points higher at 12,116.94, while the Nifty ended 1.62 percent higher at 3,683.90.

Interim Budget: What do you want?

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The Congress-led government presents the Interim Budget for 2009/10 on February 16.

Will there be tax cuts? Will you have more money in your pocket? Can the government stem the loss of jobs?

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