Short term capital gains tax rate 2016-13 india

Short term capital gains tax rate 2016-13 india

Author: Gag Date of post: 13.06.2017

A possible increase in short-term capital gains STCG tax could be on the agenda in the Budget for along with higher levy on dividends earned, a report by Business Standard said on Tuesday. The federal government has already started gathering feedback from key market participants like Securities and Exchange Board of India SEBI and the stock exchanges, the report added.

Capital gains rates and forms

The STCG, which is profits on sale of shares held for less than a period of 12 months, is presently taxed at 15 per cent. On Saturday, Prime Minister Narendra Modi in his speech said that tax collection from capital markets players is low majorly because of illegal activities. For various reasons, the contributions of tax from those who make money on the markets has been low Low or zero tax rates are given to certain types of financial income.

Tax implications on debt-oriented mutual funds

Shortly after, finance minister, Arun Jaitley, clarified that changes to the long-term capital gains LTCG , which are currently tax free, will not be made. However, regarding the consultation of the government with the market regulators, the report said that an announcement regarding the tax on STCG could be expected on February 1, The report says that currently, besides the dividend distribution tax DDT paid by companies, an additional 10 per cent is levied on individuals earning dividend income in excess of Rs 10 lakh annually.

Business Standard quoted market players who said that increasing the STCG would be a double whammy for investors as they are currently paying securities transaction tax STT on all trades. The government has also asked stock exchanges to suggest measures to crack down on tax evasion through penny stocks and the report said that the exchanges have submitted their recommendations to the finance ministry.

The income tax department has unearthed Rs 38, crore involving around 1, entities who deal in penny stocks, the report said.

The federal government has already started gathering feedback from key market participants like Securities and Exchange Board of India. SOUTH ASIA India Pakistan Sri Lanka Bangladesh Nepal Afghanistan Maldives Bhutan. WORLD Central Asia West Asia East Asia South East Asia Europe Africa Americas Australia and New Zealand. News Business-Economy News Markets News.

short term capital gains tax rate 2016-13 india

Save for later Reading List Print Comment. WION New Delhi, India Jan 30, , By Yoshita Rao A possible increase in short-term capital gains STCG tax could be on the agenda in the Budget for along with higher levy on dividends earned, a report by Business Standard said on Tuesday.

The markets on Monday reacted negatively to PM Modi's announcement.

Short-Term Capital Gains Tax Rates in -- The Motley Fool

The government collects nearly Rs 7, crore annually through STT, the report added. Racist, rude woman in Canadian hospital asks for 'white The much-awaited flagship smartphone is officially out.

short term capital gains tax rate 2016-13 india

Bihar board 10th Results likely to be declared tomorrow. This video on women's safety hits back at society.

US national kidnapped in Afghanistan. You can now get a taste of Android-flavoured Nokia phones in Pakistani hole-in-heart toddler to undergo surgery in India today.

How well do you know the budget?

Merger of Rail Budget with Union Budget and more: What it means for India. Contact About Us Privacy Policy Disclaimer Cookie Policy Team WION.

Stay connected with us.

inserted by FC2 system