Business Bureau :
CA S P Tulsian said that the present bull rally in the stock market will continue in the days to come but investors need to be very cautious while investing in the market
Mumbai-based noted stock market analyst and research expert CA S P Tulsian observed that the capital markets will witness an upside surge in the coming period as trade, industry and services have get a booster dose with handsome sectoral allocations in the Union Budget 2021. He said that the Central Government’s major thrust was on sectors like infrastructure, healthcare, education and financial institutions. Tulsian was addressing the participants in the webinar organised by COSIA, Vidarbha on ‘Analysis of Budget 2021’.
Tulsian further said that the present bull rally in the stock market will continue in the days to come but investors need to be very cautious while investing in the market. “Proper financial analysis needs to be done in selection of stocks to be invested with medium to long term perspective. Not more than 10 per cent to 15 per cent of the total portfolio should be invested in a single scrip. Rather it should be diversified and rotation must be done at regular intervals,” he suggested the participants. Tulsian applauded the Government’s statement and approach of ‘Minimum Government, Maximum Governance’ and it’s initiative for increasing ease of doing business. He explained the participants about how to choose sectoral, fundamentally good stocks so as to maximize the gains in the investments.
The second speaker CA Ketan Vajani from Mumbai deliberated on various aspects of taxation announced in the Union Budget. He said that there are about 90 to 100 amendments made in Income Tax in the proposed finance bill which needs to be minutely analysed to know it’s impact on the taxpayers. He discussed about Sec 281B of Income Tax Act regarding the provisional attachment of property in case of tax evasion. He appreciated the proposal related to reduction of time period for reopening the cases from 6 years to 3 years.
He also deliberated on various tax proposals concerning to TCS/TDS, provisions of deposit of Provident Fund payment of employees contribution, scrapping of Settlement Commission, sale of assets of Partnership Firm, exemption to file reports in case of eligible trusts, etc. CA Julfesh Shah, Vice Chairman COSIA, moderated the sessions and said that this budget will have far-reaching positive effect and industry has received this growth oriented budget with thumbs up. Chairman COSIA Mayank Shukla made the welcome remarks and said that it’s always been a initiative of COSIA to organise multi dimensional programmes for the benefit of the entrepreneurs and stakeholders. Pranav Ambaselkar, Core Committee Member of COSIA Nagpur, conducted the question-answer session and also proposed a vote of thanks.