Impact of Union Budget on Capital Markets
National Institute of Securities Markets (NISM) organized a public lecture by Shri Kanu H. Doshi – Chartered Accountant and Dean – Finance, at Welingkar Institute of Management, Mumbai,on the topic of ‘Impact of Union Budget on Capital Market’. The event was held on Friday – March 30, 2012 at NISM’s new Testing Center at Nariman Point, Mumbai.
Mr. M L Soneji, Registrar and Officiating Director of NISM, welcomed everyone and briefed about the role of NISM in capacity building and raising the quality of securities markets and its educational initiatives by organizing lectures every month on contemporary topics which may be of interest to investors and general public.
Shri Kanu H. Doshi, while explaining the salient features of Union Budget 2012-13 and its impact on Capital Market in general, touched upon the provisions like, revision in the threshold limit on the levy of income tax and the provision pertaining to the direct taxes, proposed amendments to the income tax act in the aftermath of pronouncement of judgment in Vodafone case, capital gain on transfer of residential property if invested in shares of certain company, deduction in respect of interest on saving bank account, proposed change in the domestic transfer pricing policy, General Anti-Avoidance Rule (GAAR) and Mechanism for its Applications, Minimum Alternative Tax (MAT) on Companies and Alternate Minimum Tax (AMT) on all persons other than companies. He mentioned about the initiative taken by Hon. Finance Minister by announcing the Rajiv Gandhi Equity Saving Scheme as a means to ‘encourage flow of savings in financial instruments and improve the depth of domestic capital market’. He also mentioned about the changes in the Service Tax Rules.
The event evinced lively interactions between audience and the speaker.
The event was a part of NISM’s initiative towards education of investors and general public. The event was attended by several investors, securities markets professionals, management students and media professionals.
Mr. V. G. Bhagat, SVP at NISM proposed the Vote of Thanks.
