The rising number of investors in the stock market is seriously seeking the attention of the government. As we all know there are numerous types of taxes and investors want to get relief from them. This time government may surprise the Indian stock market investors with the new taxation update in the Budget 2024. ICRA has predicted several things for the market from the upcoming Budget 2024. Let’s have a look at the major changes the government may announce.

ICRA Predicts removal of STT and Double Taxation on Dividend in Budget 2024

As per the ICRA expectations, the well-known tax on Stock market transactions which is none other than security transaction tax (STT) should no longer be charged. Based on the expectation of ICRA, the government should remove the STT on the stock market transaction because of the rising GST collection in the past quarters. Most probably, it will be a big relief to the investors to save that amount on their transactions.

Undoubtedly, if the government takes this step in the budget 2024 then we will see a massive rise in the investors in the Stock Market. Also, the news will bring positive sentiments in the market amid a bearish face.

Another big expectation ICRA Analytics anticipates is that the government should also consider removing Doble taxation on dividends. Currently, the government charges companies on the net profit they earn. But at the same time, the government also charges Investor for the dividends they get on their shares. So, it is likely a double taxation on the dividend that should be in focus in this budget. It would be appreciated if the government removed this tax. The Indian market is currently at its peak and has the potential to make more highs in the upcoming months. But these initiatives will bring people into the stock market for investments which will help markets to become more bullish in the upcoming years.

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