Short-term capital gains tax likely to continue
fe Bureau: New Delhi, Feb 05 2013, 00:09 IST
bring stability to an otherwise volatile market,” said Rajiv Chugh, partner, Ernst & Young. Removing short-term capital gains tax on listed securities could encourage day trading and add to market volatility.
The Shome panel, in its final report on general anti-avoidance rules (GAAR), made public by the finance ministry recently, recommended abolition of the tax on gains arising from transfer of securities, being equity shares or units of equity oriented mutual funds, which is subject to STT, whether in the nature of capital gains or business income, to both residents as well as non-residents.
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