The finance ministry may review the long-term capital gains taxation regime ahead of the Union Budget 2017-18 with a view to increase financial markets’ contribution to the exchequer, Indian Express said quoting anonymous government sources.
New Delhi: The finance ministry may review the long-term capital gains taxation regime ahead of the Union Budget 2017-18 with a view to increase financial markets’ contribution to the exchequer, Indian Express said quoting anonymous government sources.
The review may lead to redefining “long term” for gains capital gains in stocks to be defined as such, even as tax rates are left unchanged. The holding period is likely to be increased
Currently, stocks held for more than 12 months are considered a long-term investment. Any long-term gains from transaction in such stocks are exempt from taxes. Gains from transactions in shares held for less than 12 months are considered short-term capital gains and are subject to 15 per cent tax.
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