The government on Monday said there is no proposal at present to abolish the long-term capital gains (LTCG) tax on equity transactions for retail and domestic investors, ending speculation over a possible rollback that some market participants had sought over the last few months.
Minister of State for Finance Pankaj Chaudhary made the clarification in a written reply in the Lok Sabha after being asked the time by which the government would scrap LTCG tax for retail and domestic investors to revive market sentiment, protect domestic investors and ensure a level playing field between foreign and Indian investors.
“At present, there is no such proposal under consideration,” he said.
(More to come)
