The government has proposed a long-term capital gains tax for investing in the nation’s stocks, according to people with knowledge of the information, news that sent both equities and the rupee lower. The government may tax profits from stock investments held for more than a year. At present, profits from stock investments held for more than 12 months are tax exempt. The move by the government is to reimpose the long-term capital gains tax that was scrapped 14 years ago.
[Source: Livemint]
