BusinessBudget 2022-23: 'Better Than Expected For Stock Market'

Budget 2022-23: ‘Better Than Expected For Stock Market’

The proposed budget for FY 2022-23 is not as bad as stock market players had expected.

The International Monetary Fund’s “terrible predictions” based on chronic fears that stricter preconditions will be imposed in the budget have been largely disproved

According to the media news, Umair Naseer, Associate Director, Topline Securities, said: “My initial impression is that the budget is neutral for the stock market.

One of the salient features of the federal budget is the increase in taxes on real estate.

He maintained that all places of investment should be treated equally, so the return of large-scale concessions to the real estate sector is welcome news.

With the exception of the first house, all immovable property with a fair market value of more than Rs. 25 million will be taxed at 20% of the perceived rental income.

In addition, the 15% Capital Gains Tax will apply to real estate held for less than one year, according to Al-Falah CLSA Research, advance tax on sale and purchase of properties will be 1% to 2% for filers and 5% for non-filers

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