Dr. UNDABATLA RAMBABU

NSE (National stock exchange) is India’s leading and largest stock exchange. It has become the 10th largest stock exchange in the world with a market capitalization of more than US$ 3.4 trillion.
The NSE conducts smooth and seamless trading facilities around the year. It is open for trading from 9.15 a.m. – 3.30 p.m. (normal session) on weekdays, offering a trading session of 6 hours and 15 minutes. NSE trading holidays are observed on both Saturdays and Sundays. On these trading holidays, no trading takes place on the equity sector, equity derivative segment, and SLB segment.
Apart from weekends, specific national and cultural holidays fall under the NSE holiday list. The 2023 NSE Market holidays are observed on the following occasions:

Trading Holidays for 2023 – Equity Segment, Equity Derivative Segment and SLB Segment

Here is the detailed share market holiday list 2023-
S.No.
Holidays
Date
Day
1.
Republic Day
January 26, 2023
Thursday
2.
Holi
March 07, 2023
Tuesday
3.
Ram Navami
March 30, 2023
Thursday
4.
Mahavir Jayanti
April 04, 2023
Tuesday
5.
Good Friday
April 07, 2023
Friday
6.
Dr.Baba Saheb Ambedkar Jayanti
April 14, 2023
Friday
7.
Id-ul-fitr (Ramzan Id)
April 22, 2023
Saturday
8.
Maharashtra Day
May 01, 2023
Monday
9.
Id-ul-adha (Bakri Id)
June 28, 2023
Wednesday
10.
Independence Day
August 15, 2023
Tuesday
11.
Ganesh Chaturthi
September 19, 2023
Tuesday
12.
Mahatma Gandhi Jayanti
October 02, 2023
Monday
13.
Dussehra
October 24, 2023
Tuesday
14.
Diwali Balipratipada
November 14, 2023
Tuesday
15.
Gurunanak Jayanti
November 27, 2023
Monday
16.
Christmas
December 25, 2023
Monday

The Holidays Falling on Saturday / Sunday are as Follows

Below-mentioned are the Indian stock market holidays that are falling on Saturday/Sunday-
S.No.
Holidays
Date
Day
1.
Mahashivratri
February 18, 2023
Saturday
2.
Id-Ul-Fitr (Ramzan Id)
April 22, 2023
Saturday
3.
Muharram
July 29, 2023
Saturday
4.
Diwali Laxmi-Pujan
November 12, 2023
Sunday
*Muhurat Trading will be conducted on November 12, 2023. The timings of Muhurat Trading will be notified subsequently.
You may also want to know about the share market holidays 2023 - BSE Holiday List 2023

Trading Holidays for the Calendar Year 2023 for the Commodity Derivatives Segment

Following are the stock market holidays 2023 (trading holidays) for the current year for the Commodity Derivatives Segment-
S.No.
Holidays
Date
Day
Morning Session
Evening Session*
1.
Republic Day
January 26, 2023
Thursday
Closed
Closed
2.
Holi
March 08, 2023
Wednesday
Closed
Open
3.
Ram Navami
March 30, 2023
Thursday
Closed
Closed
4.
Mahavir Jayanti
April 04, 2023
Tuesday
Closed
Open
5.
Good Friday
April 07, 2023
Friday
Closed
Closed
6.
Dr.Baba Saheb Ambedkar Jayanti
April 14, 2023
Friday
Closed
Closed
7.
Maharashtra Day
May 01, 2023
Monday
Closed
Open
8.
Id-Ul-Adha (Bakri Id)
June 28, 2023
Wednesday
Closed
Open
9.
Independence Day
August 15, 2023
Tuesday
Closed
Closed
10.
Ganesh Chaturthi
September 19, 2023
Tuesday
Closed
Open
11.
Mahatma Gandhi Jayanti
October 02, 2023
Monday
Closed
Closed
12.
Dusshera
October 24, 2023
Tuesday
Closed
Open
13.
Diwali Balipratipada
November 14, 2023
Tuesday
Closed
Open
14.
Gurunanak Jayanti
November 27, 2023
Monday
Closed
Open
15.
Christmas
December 25, 2023
Monday
Closed
Closed
Morning session – 10:00 AM to 05:00 PM
Evening session – 05:00 PM to 11:30/11:55 PM
5:00 PM to 9:00 PM/9:30 PM for Internationally linked Agricultural commodities
Muhurat Trading will be conducted on November 12, 2023. The timings of Muhurat Trading will be notified subsequently.

Muhurat Trading

Muhurat Trading is an auspicious stock market trading occasion wherein the trading happens for an entire hour on Diwali which is one of the most celebrated festivals in India. This year, Muhurat Trading will be conducted on November 12, 2023.

What is Budget?

A budget is a financial plan for a specified period say Year in general. The Government of India i.e., Ministry of Finance after consultation with all the other ministries prepares the annual budget. The budget will be generally presented by the Finance Minister on the first day of February in Parliament. The proposed budget will come into effect from April 1st of the respective year.

Why Budget 2023 is unique?

International economic organisations and bodies like IMF, World Bank, OECD, WTO predicting India is at the center stage of world economy with relatively highest forwarding GDP despite of many macro-economic headwinds such as global recession, higher inflation, fuel prices, and protectionism. With this background, it's not just India but the world is watching how the budget 2023 would be presented and what impact or influence that it is going to bring.

Undoubtedly, most awaited budget that is expected to have fiscal consolidation and Capital expenditure on par with earlier year to spur the employment opportunities and to activate the private sector spending.

Expectations before Budget

List of expectations / recommendations for the Indian union budget 2023 were originally published on Jan 17th 2023 @ Indian Budget 2023 | Pre-Budget Expectations

Key Takeaways & Analysis

A Well rounded, win-win budget in a gloomy world economy. Good Budget for middle class salaried.

The underlying theme of self-reliant India will be appreciated by India.

Middle class salaried friendly budget where the salaried get anywhere between 25K to 45K benefit from Tax Relief up to Rs. 7L.

A ray of hope given for the agriculture sector by allocating Rs. 20L Crores

Promotes ease of doing business and taxes.

Relief to MSME in the area of taxes and promoting employment to an extent through higher than the normal infrastructure spending.

What are we missing ?

Rationalisation in GST slab rates to promote some and discourage import oriented goods and / or services.

Supporting tax revenue against a whopping 33% increase in infrastructure spending is not clear.

No allocation to increase the tax enforcement.

Budget 2023 Highlights

Taxes in General

Fiscal Deficit for FY 2023-24 is 5.9% and it is targeted to be below 4.5% by 2025-26
States will be allowed a fiscal deficit of 3.5% of GSDP
India’s economic growth in the current year is estimated to be at 7% which is highest among all major economies

Income Tax

A relief for MSME’s and professionals is provided under presumptive taxation scheme. The threshold under 44AD is increased to Rs 3 crores from Rs 2 crores and threshold under 44ADA is increased to Rs 75 lakhs from Rs 50 lakhs.
Rebate u/s 87A has been increased to Rs 7 lakhs from Rs 5 lakhs under new tax Regime. This is not applicable for Old tax regime. This was an expectation from Team EZTax.in
The highest surcharge rate of 37% is decreased to 25% under New Tax Regime. Taxpayers with taxable income of above Rs 5 crores is required to pay only 25% surcharge instead of 37%.

Income Tax slab rates under New Tax regime has been changed which is as follows.

From FY 2023-24 (per new Budget 2023)

S.No	Slab	Tax Rates
1	Upto Rs 3,00,000	Nil
2	From Rs 3,00,001 to Rs 6,00,000	5%
3	From Rs 6,00,001 to Rs 9,00,000	10%
4	From Rs 9,00,001 to Rs 12,00,000	15%
5	From Rs 12,00,001 to Rs 15,00,000	20%
6	More than Rs 15,00,000	30%
with these new rates, one may save Rs.25,000 to 48,000

From FY 2020-21 to FY 2022-23 ( for comparison)

S.No	Slab	Tax Rates
1	Upto Rs 2,50,000	Nil
2	From Rs 2,50,001 to Rs 5,00,000	5%
3	From Rs 5,00,001 to Rs 7,50,000	10%
4	From Rs 7,50,001 to Rs 10,00,000	15%
5	From Rs 10,00,001 to Rs 12,50,000	20%
6	From Rs 12,50,001 to Rs 15,00,000	25%
7	More than Rs 15,00,000	30%

The Tax exemption limit is increased to Rs 3 lakhs for the taxpayers under New Regime
Leave Encashment exemption on retirement of non-government salaried employees is increased to Rs 25 lakhs from Rs 3 lakhs
New tax regime will be the default tax regime. However taxpayer can continue to avail the old tax regime
The deduction from capital gains on investment in residential house u/s 54 and 54F is capped at Rs 10 crore. This impacts very few people in the country
Deduction for expenditure on payments made to MSME's will be allowed only when payment is actually made
w.e.f 01st Apr 2023, if aggregate of premium for life insurance policies issued on or after 01st Apr 2023 is above Rs 5 lakhs, income from only those policies with aggregate premium upto Rs 5 lakhs shall be exempt
TDS Rate on EPF withdrawal in Non PAN cases is reduced to 20% from 30%
Minimum threshold of rs 10,000 for TDS deduction on online gaming is removed
The threshold for TDS on Cash withdrawal from co-operative banks is increased to Rs 3 crores
Date of incorporation for startups for tax benefits is extended to 31st Mar 2024 from 31st Mar 2023
The benefit of carry forward of losses on change of shareholding of start-ups is extended to 10 years from 7 years
New Co-operatives which will commence manufacturing activities till 31st Mar 2024 will get a lower tax benefit of 15%

for NRIs

No Changes or new rules has been notified for NRI's

for Cryptocurrencies

No Changes or new rules has been notified for Cryptocurrencies / VDAs / NFTs

GST

No major changes in GST
A simplified tax structure with fewer tax rates is proposed which helps in reducing compliance burden and improving tax administration

Customs Duty

Reduction in number of basic customs duty rates on goods, other than textiles and agriculture, from 21 to 13.
customs duty exemption is extended to import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles
Relief in customs duty on import of certain parts and inputs like camera lens
Reduction in Basic Customs duty on parts of open cells of TV panels to 2.5%
Increase of import duty on silver door, bars and articles to align then with gold and platinum
The basic customs duty rate on compounded is increased from 10% to 25% or Rs 30 per kg whichever is lower
NCCD on specified cigarettes is revised upwards by 16%
Exemption from basic customs duty on raw materials for manufacture of CRGO steel, ferrous scrap and nickel cathode is being continued
Reduction in basic customs duty on lab grown diamonds

Ease of Doing Business

PAN will be used as common identifier for all business establishments to bring common data among different agencies to enable ease of business.
Central processing for new SEZ & clearances

Minimum Government & Maximum Governance

There are new budget allocation in this category.

Innovation, R&D

Agriculture accelerator fund will be set up to encourage Agri-startups by young entrepreneurs in rural areas
Atmanirbhar clean plant program to boost the availability of disease free, quality planting material for high value horticultural crops
Centres of excellence for AI to enable Make AI for India, and Make AI work for India will be established.

Reinvigorating Human Capital

3 centres of excellence for artificial intelligence will be set up in top educational institutions for realising the vision of Make AI in India and Make AI work for India
NITI Aayog will be continued for an additional 3 years
100 labs for developing applications using 5G will be setup in engineering institutions

Infrastructure

Capital investment outlay is increased by 33% to Rs 10 lakh crore which will be 3.3% of GDP
Capital outlay of 2.40 lakh crore has been provided for railways
50 additional airports, heliports, water aerodromes and advance landing grounds will be setup for improving regional air connectivity

Health

157 new nursing colleges will be established
Facilities in select ICMR labs will be made available for research by public and private medical college faculty and private sector R&D teams
To promote research and innovation in pharmaceuticals , a new programme will be taken up through centres of excellence.
A Mission to eliminate sickle cell Anaemia by 2047 will be launched

New Vs Old Personal Income Tax Regime from FY 2021-22

Top three observations from the analysis were

New Tax Regime is Good if you want higher take home salary
Higher Deductions Higher Tax Savings with Old Tax Regime
To switch to New Tax Regime, you need to work with your employer

Pictorial analysis on New Vs Old Personal Income Tax Regime.