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Remove long-term capital gains tax exemption: BSE

November 30, 2017
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One of the most important stock market participants is making a case for reinstating of long-term capital gains (LTCG) tax on equity investments. According to sources, the BSE has made a presentation to the Union finance ministry that LTCG exemptions cause huge revenues loss to the government and also lead to market manipulation. LTCG is tax-exempt on the sale of listed securities, since 2005. This had made India one of the most liberal markets in this regard, BSE said in a presentation last Friday. LTCG are profits on sale of shares on a stock exchange platform after a holding period of at least a year. Short-term capital gains (STCG) are profits on sale of shares held for less than 12 months; these are taxed at a flat 15 per cent. “Since India has one of the lowest tax collection to GDP (gross domestic product) ratio within G-20 countries, every effort must be taken to shore up the revenue collection. LTCG taxation could help,” it had reportedly said.The exchange pegs the loss to …

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