Budget 2018: I-T benefits to easy capital gains tax, expectations for IFSC

V Balasubramaniam, MD & CEO of India INX, India's first international exchange, shares his Budget expectations with regard to IFSC

At India’s first International Financial Services Centre, getting onto par with other financial centres is key.  Currently, India’s IFSC mission is mired under several disadvantages which make us a less preferred option when compared to US, London, Singapore and Hong Kong.
 
On the direct tax side, we hope the following key areas will be addressed: 
 
* Short Term Capital Gain Tax needs to be done away with for any transaction that is done through IFSC in both derivatives and debt.

We have seen the impact of this already in the way in terms of the cost of