Tax on long-term capital gains (LTCG), the impost that is the most fiercely opposed by India’s stock market participants, may finally be taken up by the government in Budget 2018. The Finance Ministry is looking to do away with the distinction between tax on long- and short-term capital gains or raise the holding period for long-term tax exemption to three years from one, two sources close to budget preparations told BusinessLine.
Short-term capital gains from equity holding for less than a year are taxed at 15 per cent. Gains from shares sold after a year, known as LTCG, have been exempt from tax since 2005. The LTCG exemption was intended to promote equity investments, but the Direct Tax Code (DTC) framework, re-drafted in 2009, proposed an elimination of this distinction.
Read more at http://www.thehindubusinessline.com/economy/long-term-tax-on-shares-to-hunt-dstreet/article10002706.ece
My notes: by all means tax LTCG... person is making money.. so why not pay tax?
Short-term capital gains from equity holding for less than a year are taxed at 15 per cent. Gains from shares sold after a year, known as LTCG, have been exempt from tax since 2005. The LTCG exemption was intended to promote equity investments, but the Direct Tax Code (DTC) framework, re-drafted in 2009, proposed an elimination of this distinction.
Read more at http://www.thehindubusinessline.com/economy/long-term-tax-on-shares-to-hunt-dstreet/article10002706.ece
My notes: by all means tax LTCG... person is making money.. so why not pay tax?
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