Sebi panel bats for tax sops for social stock exchanges to take off

Besides abolishing STT and CGT, the panel has also recommended philanthropic donors be eligible to claim 100-per cent tax exemption

An expert panel constituted by the markets regulator, Securities and Exchange Board of India (Sebi), has suggested tax sops, such as an exemption from the securities transaction tax (STT) and capital gains tax (CGT), to ensure that social stock exchanges (SSEs) take off in the country.

The 15-member expert panel under the chairmanship of Tata group veteran Ishaat Hussain was constituted by Sebi in September last year following a Union Budget proposal in July. SSEs are used globally for making impact-investments with an objective to achieve certain social goals.