CLOSING BELL: Broader markets were unable to recover from the intra-day lows with BSE Midcap and Smallcap indices dropping up to 1 per cent
This is among the host of suggestions submitted by the sector
The government, reports suggest, may rationalise long-term capital gains tax (LTCG) structure by bringing parity between similar asset classes
Industry says exemption for those staying invested for over three years will help channelise flows into financial assets
As preparations begin for the next budget, discussions have gained steam around what the government would do with the capital gains tax regime
At present, long-term capital gains on listed stocks are liable to 15% surcharge max, while other long term capital gains suffer a graded surcharge which goes up to 37%
While there was no change in the slabs and no deductions whatsoever, there was some relief for taxpayers who make a mistake in filing income-tax
This was the best Budget-day gain for the markets since 1997, analysts said
The proposal will also encourage domestic financial institutions to see start-ups as an alternative asset class that has been heavily dependent on foreign capital still now
This should apply to investments made through collective investment vehicles such as angel funds, alternate investment funds and investment LLPs
Mohandas Pai, former CEO and board member at Infosys, made a pitch for removing the tax on share buybacks
Most domestic and foreign brokerages look forward to credible steps to prop-up growth
Tax may be imposed on shareholders getting dividends
Wants holding period for computing long-term gains reduced to one year
The abolition of the DDT is one of the long-pending demands of market players as it leads to double taxation
The LTCG was introduced in the 2018 Budget after more than a decade with a tax of 10 per cent on an amount above Rs 1 lakh
From govt readying a package to help boost exports and real estate to the Direct Taxes Code panel recommending abolishing of dividend distribution tax, here are the top business headlines on Wednesday
However, SEBI does not specify the credit profile of the funds
For long-term wealth creation, equity remains the best compared to all other asset classes
For debt-oriented funds, the gain will be long term if the period of holding is over 36 months