2% tax on large bank cash withdrawal excellent move: Amar Ambani\, YES Securities
2% tax on large bank cash withdrawal excellent move: Amar Ambani, YES Securities
Body blow to HNIs by levying high surcharge on the rich, Ambani said.
An overhaul of education material is much needed. It’s also a positive measure for companies in publishing space.
If increased public shareholding norm implemented, supply of paper in the market will increase. This will mean that money will be sucked out of secondary market and valuations will remain under check.
As expected, capital infusion in public sector banks has come through. Infusion of Rs. 70000 crore is a positive for PSU Banks.
Excellent move to levy 2% tax on cash withdrawal of over one crore rupees in a year. Will help in a more transparent digital economy.
Cost of ownership of vehicles further go up with implementation of special duty on fuel. Negative for auto majors.
The big surcharge tax on the high income group and possible liquidity squeezing of secondary market liquidity due to disinvestment and increased public shareholding is causing the stock market to fall today.