Vijay Kedia On Removal Of Indexation Benefits & Hike In Long Term Capital Gains Tax

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2024년 예산의 장기양도소득세 변경(금·부동산 20%→12.5%, 물가지수 연동공제 폐지)이 장기 투자에 큰 악영향은 없다고 평가. 예산 자체는 '성장 지향적이고 실용적'이라 긍정적으로 봄. 중소형주 일부는 이미 고점 대비 조정 중이며 시장 전체 급락은 예상하지 않으나 유동성 악화나 미국 시장 충격 시 조정 가능성 언급. 로테이션 장세가 이어질 것으로 전망하며 주의 권고.

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01. But anyway, I want to ask you about gold and real estate because this LTCG on gold and real estate has been reduced on all non-equity assets from 20 to 125, but at the same time, indexation has been removed. People are not understanding this much yet and perhaps they will understand in the coming days whether it is negative or positive.

02. At present, stocks are reacting negatively. What have you seen of this? Do you have any take on this? I said somewhere that yes, indexation. They have talked about abolishing indexation on real estate. So, look at it again, I say that I am not so much against tax. If they have removed indexation, then it is fine now.

03. Look at the comment. You will have to bring revenue from somewhere, so fine. If it is removed, then it is removed. But just think, if someone bought a house 25 years ago, his family or he bought a house and wants to sell it today, then you will directly impose full tax on the profits at 125. You are not indexing for inflation, the way real estate prices have gone up.

04. This will be very heavy on the people, not earlier but it was at 20, ma'am, but there was indexation as well, so your acquisition cost was being adjusted for inflation, so if it is reduced to 20 and a half and here the indexation is removed, then it will not make much difference to you, because if you are talking about 25 years, then your cost price would have increased three to four times.

05. What I mean to say is, if you buy it for 25 lakhs, then after 25 years, I am saying, its value might have become one crore, so if you sell it for two crores, for example, then you will have to pay tax only on one crore. Okay, if you understand it in that way, then in my opinion, it should not have any impact on this gold.

06. Okay, so no big impact for real estate. There should not be much impact on gold either. At this time, net net, you will feel, Vijay Kadiya ji, if we had to define this budget or ask you to explain something on this in brief, can we say that at least this budget did not cause much harm? I just pinched the capital gains a little bit, no no no, that's your own thinking, madam, you should read the fine print, this is a budget, leave the market aside as per the budget, this is a very good budget and going forward, this is a budget of progress, as I understand it, I don't think there is any flaw in the budget, madam, you should understand one thing, as you say in English, at one place you can keep some people happy forever, you can keep every person, every kind of person happy for some time, but you cannot keep every person happy all the time, somewhere or the other you will have to dig another pit to fill each hole that grows, you cannot escape from this here, so in my opinion, yes, in my opinion, the budget is very good as far as the budget is concerned and this pragmatic budget is good, the very last question to you because I know, we have also taken a lot of your time, everyone has been saying for a long time that a correction is coming, a correction is coming in the market, the budget is done now The time has come for that correction, ma'am.

07. There are two things in this. One, I still feel that a correction should have come. But I often look at it. There are many such stocks in the mid-cap category which are already correcting and have also fallen from the top of 20. You will find many stocks there. So, this is not just a trend that 5000 out of 5000 stocks are at their all-time high.

08. It is not like that; many stocks have already fallen from the top of 20. So by saying this, it seems that mix and match will continue. The budget could have been such a reason for the market to fall drastically, but that has not happened. So, I feel that the market will not fall due to the budget. There is so much liquidity.

09. If there is any break in the liquidity or if there is some break in the US market, then it is possible that this correction will come in the market. Otherwise, according to the rotation, the market will continue as it is, I feel so, but one should be cautious. Because people never react or speak about it, when a person falls asleep, then his luggage gets stolen, so people say that passengers should protect their luggage themselves.