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Thanking taxpayers

Finance Minister Piyush Goyal presented a Budget last week that had no major impact on most retail in
Thanking taxpayers
By Making smalltalk • Issue #8 • View online
Finance Minister Piyush Goyal presented a Budget last week that had no major impact on most retail investors. Possibly, the biggest way it affects most of us is with the increase in the limit of tax-free interest earned - now, up to ₹40,000 earned in interest via bank deposits (savings account or FDs) will be tax-free, from an earlier limit of ₹10,000.
Assuming an interest rate of 7%, this means that one can deposit approx ₹5,72,000 in such accounts and not pay tax on the earned interest income. Whether or not FDs are a wise investment to beat inflation & build long-term wealth is a whole different debate, but at least those fond of it can enjoy paying less tax - though only from next financial year onwards.
There were some other points of interest in Budget 2019 - like an increase in standard tax deduction from ₹40,000 to ₹50,000 or no more tax on “notional rent” for owners of 2 houses - but these are either not that significant or not widely applicable. The main announcements, unsurprisingly, came to the benefit of farmers - from direct income support of Rs 6,000 to a 2% interest subsidy to loans availed via Kisan Credit Card. While the merits & motives behind these proposals can be argued, it’s probable is that these policies will lead to higher cash injection in the rural economy, which in turn will boost the national economic output.
What was indeed refreshing to see was a Finance Minister thank the honest taxpayers for p̶l̶a̶y̶i̶n̶g paying their part - perhaps the fact that Piyush Goyal is a Chartered Accountant whereas most of his predecessors were either lawyers or economists might have something to do with his appreciation for paying taxes! :)
On a different note, are you someone who has an investment advisor? Do they provide you with investment ideas via e-mail or WhatsApp, which you then have to execute yourself via your brokerage account? If so, life could get a whole lot simpler for you and your advisor now! We recently launched the smallcase Publisher platform for licensed investment professionals - it’s a tool that allows them to create & publish their research as smallcases, which clients like you can then execute via 1-click!
As a smallcase, these portfolios can be tracked separately from the rest of your holdings, and when your advisor updates the portfolio, you receive an e-mail notification that allows you to rebalance your portfolio, again in simply 1-click. Just last week we onboarded our first SEBI Registered Investment Advisor Alok Jain, founder of, on the Publisher platform - so if you have an investment advisor, ask them to reach out to us!

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From Our Blog
Making smalltalk with Alok Jain
Abhash Kumar
This afternoon, as part of our Monthly learning sessions at @springroleinc, we decided to do 'Investing 101'.

Glad to have had @vikasbardia of @smallcasehq facilitate this short & sweet 1-hour session for us at our office.

As you can see, it was 'Oversubscribed' 😃😇
6:37 PM - 5 Feb 2019
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