STCG & LTCG: THE 2024 BUDGET GRENADES by Tripti Agarwal On the 23rd of July, 2024, Larsen & Toubro- a prominent force in engineering, construction, and technology, witnessed its shares plummet from a high of ₹3,714 to a perilous low of ₹3,460 in mere hours. Shocking as it was, this was not the only company to witness this dramatic plunge. The reason behind this? The Budget announcement by the Indian Financial Minister. The final budget for the financial year 2024-25 was announced by the finance minister, Nirmala Sitharaman, on the 23rd of July, 2024. This budget did not deviate much from the interim budget announced earlier this year; the primary areas of focus remained capex, skill development, and fiscal consolidation. But from the investors point of view this budget was marginally negative in terms of the increase in LTCG and STCG. But what are LTCG and STCG and how do they impact investors and traders? Long-Term Capital Gains (LTCG) implies the profit that is earned by an investor which he earns after the sale of his investment like stocks, real estate, bonds, etc. According to Budget 2024, when the assets sold are listed equity shares, equity-oriented mutual funds or business trusts, then long-term capital gain tax rate will be 12.5 per cent against 10 per cent that was levied earlier. Along with this, the short-term capital gains (12 months for equity and 24 months for real estate, bonds and unlisted shares) will now have a tax rate of 20% against the previous 15%. Following this announcement, the market reacted strongly as this change was expected to impact investors as well as traders. The BSE Sensex witnessed an intraday swing of over 1,500 points and the Nifty 50 index experienced excess volatility of over 500 points. The stock market experienced a short-lived crash but it was also quick to recover. But was this crash in any way similar to the crash the stock market experienced after the Microsoft outage or after the election results? Follow to find out more!
E-Cell BASE-U
Non-profit Organizations
A student-run initiative to empower entrepreneurship at BASE University, Bengaluru.
About us
E-Cell BASEU is a non-profit organization that is fully run by the students of Dr. B.R. Ambedkar School of Economics University, Bengaluru. Our Mission As students of a leading economics university in the country, we are committed to developing and nurturing India's next-generation thinkers, innovators, and creators. We aim to empower entrepreneurship and its related fields such as finance, marketing, sales, technology, design etc. Our Vision We, at E-Cell BASEU aspire to grow the startup culture of our university. We plan to organize workshops, inter-university competitions, field visits, and fests.
- Website
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https://linktr.ee/ecellbase
External link for E-Cell BASE-U
- Industry
- Non-profit Organizations
- Company size
- 11-50 employees
- Type
- Nonprofit
- Founded
- 2024
Employees at E-Cell BASE-U
Updates
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ANGELS AND DEMONS: WHAT IS THE ANGEL TAX AND WHY IS IT BEING REPEALED by Mrinalini M Manoj Some trending headlines since the budget go something like this: “Budget 2024: Centre abolishes angel tax in a major boost for startup ecosystem”. But what is the angel tax? And why is this a significant decision for India’s startup ecosystem? Say you establish a startup. An angel investor invests Rs. 20 crores in your firm in exchange for shares. But the fair market valuation (FMV) of those shares is actually Rs. 15 crores. The remaining Rs 5 crores will be considered income from other sources and taxed at a rate of 30.9% under Section 56(2)(viib) of the Income Tax Act 1961. This tax is known as the Angel Tax. It was introduced in 2012 to curb tax evasion and money laundering. In 2018, the government issued a notification exempting startups with a total investment of less than Rs. 10 crores from the angel tax, subject to other criteria. But why is the Angel Tax being repealed? Since its introduction, the angel tax has been a woe of entrepreneurs. It eats up most of the investible surplus available to startups and limits their growth prospects. This in turn makes investing in startups unattractive to angel investors. The Department for Promotion of Industry and Internal Trade (DPIIT) and the Confederation of Indian Industry (CII) had called for the removal of rationalization of angel tax before the budget. How is this move expected to impact the startup ecosystem? The new rules which will take effect on April 1, 2025, are expected to be a huge boost to some 1,41,000 startups registered with the DPIIT. It will increase capital formation in India and provides an incentive for startups to stay in India. The abolition of the Angel Tax in the 2024 Union Budget is a major relief and development to Indian entrepreneurs and is sure to aid India in its goal of being a $7 trillion economy by 2030. #angeltax #unionbudget2024 #startups
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A huge shoutout to Fund - BASEU for helping bring our campus to life. Last semester was incredible, and we can't wait to bring you even more exciting events this time around. Stay tuned!
Even Semester 23-24 Thank you everyone who helped make this possible. Bhanumurthy N R, BIDUR PARIA, Irfan Ali K C, Bipin Sony, Sheetal Bharat, Dr. Haroon Rasool, Sandeep Ohri - That Strategy Guy, Muhammed Shameer, Dr. Kasturi Bhattacharjee, Bengaluru BR Ambedkar School of Economics, Anvikshan - The Research Society, BASEU, E-Cell BASE-U. Dr. D Rajasekhar - VC BASEU Karteek Rao, Athul C Nambiar, Vardhan Madala, Kanaka Raj, Anirudh Reddy, Devnarayanan K, Sarvagya Tripathi, N D Sai Kesav Pavan Mocharla, Utkal Anan Mahapatra, Bibhas Kumar, Akshai Ananthakrishnan, Srujana Harshitha, Harsh Singhania, Ashley Manoj, Samartha Shastry, NIRANJAN G, Sona Unnikrishnan, Tanisha Lamba
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We are thrilled to introduce the creative minds behind our Design and Communications teams. Leading the Design team are our talented Heads of Design, Roopak Kautarapu and Paarth Dwivedi, whose vision and creativity are transforming our projects. On the Communications front, we have Mrinalini M Manoj as the Head of Communication, supported by the dedicated Communications Executives, Anvi Jawrewal and Yanhavi P Acharya. Their expertise and commitment are crucial in fostering strong connections and delivering impactful messages. #MeetTheTeam #DesignTeam #CommunicationsTeam #Innovation #Leadership #BASEUniversity #Entrepreneurship #ECell
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We proudly introduce the dynamic teams leading our Research & Development and Events departments. The Head of R&D Kaushiki Choubey is supported by the talented R&D Executives, Tripti Agarwal and Apurva Anand. Their innovative approaches and relentless pursuit of excellence are set to drive groundbreaking projects and advancements. On the events side, we have the Head of Events saidaksh sharma at the helm, with Umarani Mandula as the Events Executive. This team is dedicated to crafting memorable, impactful events that inspire and engage our community. #MeetTheTeam #ResearchAndDevelopment #EventsTeam #Innovation #Leadership #BASEU #Entrepreneurship #ECell
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We are excited to introduce the visionary leaders of the Entrepreneurship Cell at BASE-U. Our Founders and Presidents, Shyamak Sehgal and Sharad Yadav, along with Chief Coordinators, Rishik Pal and Khushi Swatch, are the driving forces behind E-Cell. Together, they are dedicated to empowering and nurturing the entrepreneurial spirit within our community. Join us in celebrating their leadership and the innovative future they are shaping. #Entrepreneurship #Leadership #Innovation #BASEUniversity #ECell #Visionaries #MeetTheTeam
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We are thrilled to announce the dynamic new leaders of our Entrepreneurship Cell. With their innovative vision, passion, and dedication, they are set to take our community to new heights. Join us in welcoming them and stay tuned for exciting initiatives, events, and opportunities! #Entrepreneurship #NewBeginnings #Innovation #Leadership #StartupCommunity #MeetTheTeam #ECell #BASEUniversity