Tax conundrum: Adhia's remarks on LTCG tax irk investors, fund managers

Finance Secretary Hasmukh Adhia’s remarks on investing in equity markets hasn’t gone down well with fund managers and value investors. In a post-Budget interview, Adhia had said capital gains don’t accrue from any effort. The statement irked several fund managers and stock market investors who were already spooked by the introduction of a long-term capital gains tax in the Budget. “On this logic, salary should not be taxed at all,” a fund manager said.