Ficci urges LTCG exemption on listed stocks amid 3L/cr outflow
Business
Ficci, the industry body, is urging the government to bring back the long-term capital gains (LTCG) tax exemption on listed stocks.
They pitched this during a pre-budget chat, saying it could help make investing in India more attractive, especially since foreign portfolio investors (FPIs) have already pulled out over 3 lakh crore rupees this year.
Ficci seeks 10 year LTCG certainty
Ficci thinks keeping the old tax break for possibly 10 years would give investors more confidence and stability.
They also pointed out that having both LTCG tax and Securities Transaction Tax (STT) together have lowered actual returns for people investing in stocks.
Plus, they suggested some tweaks to other taxes to keep things fair for businesses and encourage more money flowing into India.