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LTCG Tax On Equity To Continue In Union Budget 2019-20 Against Industry Demand

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As per sources while there are being hopes of the limit being increased beyond the Rs. 1 lakh limit on gains made on equity to attract LTCG tax of 10%, the tax is likely to continue as per sources. Further the sources have clarified that neither the limit as well as the tax rate on LTCG on sale of equity @ 10% is likely to be increased in the upcoming budget.

LTCG Tax On Equity To Continue In Union Budget 2019-20

 

LTCG on equity was re-introduced in the Union Budget 2018 with a grand-fathering clause.

But some of the opinions state that the government in order to spur equity investments might increase the limit of gains made on equity sale beyond the specified limit of Rs. 1 lakh or even cut tax rate of 10%.

Also there are worries lingering the market, that any increase in the rate to boost government revenue will impact the sentiment in the indices negatively. And also, the industry has demanded a complete scrapping of the LTCG tax on sale of listed equity as they are already paying STT.

Mutual fund industry also urges to withdraw the LTCG tax imposed on equity fund holding as the revenue collection through the route is not significant.

GoodReturns.in

Read more about: ltcg equity mutual fund stt
Story first published: Thursday, June 27, 2019, 12:29 [IST]
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