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Consumer durables stocks rise as FM announces change in personal income tax slabs

01 Feb 2020 Evaluate

Shares of companies related to consumer durables sector soared after Finance Minister Nirmala Sitharaman proposed a new personal income tax regime would be reduced who forego deductions and exemptions. Tax of only 10 percent will be charged to Rs 5 lakh-7.5 lakh income as against prevailing 20% rate. From Rs 7.5 lakh-10 lakh income, a tax rate of 15% against 20% prevailing rate. For income Rs 10-12.5 lakh, a rate of 20% as against 30% earlier. For income between Rs 12.5 lakh-15 lakh will be taxed at 25% as against 30%. For those at Rs 15 lakh plus income, tax will be 30%. No income tax for income up to Rs 5 lakh.

Symphony is currently trading at Rs. 1230.00, up by 13.70 points or 1.13% from its previous closing of Rs. 1216.30 on the BSE. The scrip opened at Rs. 1228.70 and has touched a high and low of Rs. 1244.90 and Rs. 1219.35 respectively.

TTK Prestige is currently trading at Rs. 5810.00, up by 30.50 points or 0.53% from its previous closing of Rs. 5779.50 on the BSE. The scrip opened at Rs. 5772.25 and has touched a high and low of Rs. 5832.65 and Rs. 5772.20 respectively.

Voltas is currently trading at Rs. 696.80, up by 1.75 points or 0.25 % from its previous closing of Rs. 695.05 on the BSE. The scrip opened at Rs. 695.75 and has touched a high and low of Rs. 708.25 and Rs. 690.45 respectively.

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