Govt likely to revamp capital gains tax in next budget to boost revenue: Report

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https://www.cnbctv18.com/market/stocks/govt-lik...


Centre is expected to revamp

the capital gains tax structure in the next budget to augment revenue

collections and boost spending on welfare schemes, LiveMint reported on

Tuesday citing two officials privy to the matter.According

to the proposal, which is reportedly being studied in the finance

ministry, the Narendra Modi-led government’s philosophy is that passive

income earned from the capital market should not be taxed at a lower

rate than income earned from doing business, which involves taking

entrepreneurial risks and job creation.The government wants to boost revenue from the capital market to support welfare activities, the report said.Currently,

long-term capital gains (LTCG), which was was introduced with effect

from 1 April 2019, on listed equities held for more than a year is taxed

at 10 percent on profits above a threshold of Rs 1 lakh.On the other hand, short-term capital gains on listed equities held for less than a year is taxed at 15 percent.“Making

the capital gains tax structure more efficient needs legislative

amendments. This may be taken up in the next budget as it cannot be done

out of the blue," LiveMint quoted as saying one of the officials cited

above.Another official, on condition of anonymity,

said taxation and benefit transfers were two levellers as far as

tackling income inequality is concerned. “In India, we do not have the

data, but experience from countries such as the US, where data is

available, suggests the picture of post-tax, post-transfer income

inequality is quite different from the one painted by data on pre-tax,

pre-transfer income inequality," the official said.The

government estimates that long-term capital gains are taxed in many

countries at the 25-30 percent range, or the applicable income tax

rates, the government said.Higher capital gains

tax in India when compared with other emerging market economies could

reduce the country’s relative attractiveness as an investment

destination and encourage Indians to invest in other assets.

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Deal Cadet Deal Cadet
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Isn’t it an year too early to talk about next budget?

Frankly, I never understood why there are different taxation for different categories. It should have been uniform. Maybe initially it was to promote investment, but now a days, lot of people do it due to higher returns.

Now that they are thinking to merge them with usual income, they should also allow setting off loses in any category against any category.

They should also remove the professional income tax for doctors/lawyers where half of the income is exempt and remove those exemptions.

Make the new regime more attractive without any exemptions. Currently very small group of people use it.


Deal Subedar Deal Subedar
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Chus le , Chus le , Chus le 

Middle class ko 

Critic Critic
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udhar trump tax hata ne ki baat karta hai, or yahan modi g hai ,tax pe tax, tax pe tax

Deal Lieutenant Deal Lieutenant
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lollipop ha dosto kuch nahi milega.maine aisa articles parna hi chorh diya ha

Deal Cadet Deal Cadet
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Meanwhile some other sources says speculation  https://cdn0.desidime.com/attachments/photos/751788/medium/IMG-20220315-WA0008.jpg?1647360030

Deal Lieutenant Deal Lieutenant
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iron-man wrote:

Meanwhile some other sources says speculation  https://cdn0.desidime.com/attachments/photos/751788/medium/IMG-20220315-WA0008.jpg?1647360030

The ending part is missing, in the realm of speculation until announced

Deal Lieutenant Deal Lieutenant
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Knight11 wrote:

Isn’t it an year too early to talk about next budget?

Frankly, I never understood why there are different taxation for different categories. It should have been uniform. Maybe initially it was to promote investment, but now a days, lot of people do it due to higher returns.

Now that they are thinking to merge them with usual income, they should also allow setting off loses in any category against any category.

They should also remove the professional income tax for doctors/lawyers where half of the income is exempt and remove those exemptions.

Make the new regime more attractive without any exemptions. Currently very small group of people use it.


Are you making these suggestions for the next budget right after saying it is an year too early to talk ??

Pro Community Angel Pro Community Angel
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decideaim wrote:

Are you making these suggestions for the next budget right after saying it is an year too early to talk ??

https://cdn0.desidime.com/attachments/photos/751794/medium/images.jpeg?1647360806


J/K

Deal Cadet Deal Cadet
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decideaim wrote:

The ending part is missing, in the realm of speculation until announced

Might be,might not be, atlast we are the one  suffering pensive

Deal Cadet Deal Cadet
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decideaim wrote:

Are you making these suggestions for the next budget right after saying it is an year too early to talk ??

No, it was just my view in general.

Deal Subedar Deal Subedar
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Equity is a risky investment, it should be charged more than 15% whether short term or long term. 


My simple version of taxation from equity - 

1. No STT on Listed Equity Purchase and Sale

2. No Bifurcation of Intraday (apart from options, futures), Short Term, Long Term -  Flat 15% 

3. Exceptions for initial 2 lakh profit to promote retail participation.

4. Gains should be calculated on net gain (deducting DP and brokerage fees







Deal Lieutenant Deal Lieutenant
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The only ones that always make money in stock market are brokers and jokers, the former from charges and the latter from the taxes

Cool Cool
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EkdamSastaRaju wrote:

Chus le , Chus le , Chus le 

Middle class ko 

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