Some highlights from the link of moneycontrol.
MoneyControl : - Govt. is arrogant & completely irresponsible towards aggressive taxation policy.Govt. should learn lesson from FIIs'' MAT issue.Even Supreme Court favoured FIIs.
BSE member - Ramesh Damani : Not fair to say mkt isn''t paying taxes; STT is painless.
NSE opposed openly of any kind of increase in tax.NSE warned Govt. that due to such irresponsible behaviour , they may even loss the current revenue also as the traders & investors may disappear on the spot.
Supreme Court is also against heavy taxation policy.
GAAR committee by Parthasarathi Shome said that the revenue collected by way of capital gains taxation is very small compared to the overall direct taxes collection. The committee suggested that abolishing the tax on short term capital gains may provide a boost to capital markets and in turn help attracting investments.
What market experts & brokers gossip.They are uniting themselves & go against govt. to oppose taxation policy if passed in the upcoming budget silently.They advise their clients to keep distance from finance companies as the liquidity crunch scenario has its effect upto 6 months.GST bill also in trouble as the opposition party & respective state govt. are now scattered . Some targets are
Bharat financial may slip up to 380 breaking 52 week low
Repco home finance to break 52 week low in 2 days
Ujjivan - 240
Equitas - 120
PNB HF - 750
JM - 50
Bajaj fin. - 700
MOST - 450
CanFinHome - 1200
Satin - 250
Reliance capital -350
DHFL - 200
IBulls - 500
So wait & watch till GST conclusion on 4th jan. & after that Cos. quarterly result which may bring market more down.Nifty may slip to 7200 level.
🙏👍