SEBI seeks LTCG tax removal for foreign investors in India
Business
SEBI is pushing to remove the long-term capital gains (LTCG) tax on stocks for foreign investors, hoping to bring more global money into India's equity markets, which haven't been doing great lately.
This proposal was sent in before the upcoming Union Budget and is waiting on a green light from the government.
Foreign investors $31bn exit Indian stocks
Foreign investors have pulled $31 billion out of Indian stocks recently.
SEBI thinks cutting the 12.5% LTCG tax (for stocks held over a year) could make India more attractive for international investors.
They're also suggesting easier tax rules for domestic mutual fund holders, like letting people switch schemes without extra taxes if they've held their investment for over a year, to help boost confidence in Indian markets overall.