Gold price surges after fresh buy from jewellery traders

Gold prices rose firmly in the bullion market on Monday on emergence of fresh buying from jewellery traders and retailers as well as increased investment off-take.

Industrial metals, silver also rallied owing to heavy industrial demand.

Standard gold (99.5 purity) firmed up by Rs 155 to end at Rs 28,185 per 10 grams compared with

MF industry bats for no retrospective taxation of debt funds

The mutual fund industry is hopeful that government will not retrospectively tax debt fund investors who redeemed their holding between April 1, 2014, and the Budget announcement imposing a 20 per cent tax on long-term capital gains on debt funds.

"The feelers we are getting from the government gives us hope that concerns of fixed maturity plan (FMP) investors (regarding retrospective taxation), who redeemed in

Ours is not a high-tax govt, says Arun Jaitley

Union finance minister Arun Jaitley announced some concessions for the mutual fund ( MF) industry and income taxpayers on Friday while pledging that the government would stick to a lowtax regime to promote industrial growth and create more jobs.

In order to provide some relief to taxpayers who are late in filing returns and end up paying hefty penalties calculated on a daily basis, Jaitley said that Central Board of Direct Taxes ( CBDT) will be empowered to exercise discretion.