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BJP recommends tax tweaks to attract foreign investors
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BJP recommends tax tweaks to attract foreign investors
Prime Minister Narendra Modi's party has recommended adjusting rules on taxing equity market returns in the upcoming budget on Feb. 1, which if accepted, could attract more capital inflows into the stock markets, a senior party leader said. Financial market participants have been lobbying for scrapping long term capital gains tax (LTCG) on investment in equity or equity-oriented funds or extending the holding period from the current one year to two years with nil tax. India charges 15% short-term capital gains tax if equity shares are sold within a year and at 10% if sold after a year.
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