Sebi backs removal of long-term capital gains tax for foreign investors

Contributing sentiments towards policy:

57% : Investors currently ‌pay long-term capital gains tax of 12.5% for securities â€"held for more than a year and short-term capital gains ‌tax of 20%, in addition to securities transaction taxes on trades and withholding taxes on dividends.
54% : Brokerage firm Jefferies in a ‌note â earlier this week said any reduction in capital gains taxes could improve the market's attractiveness for foreign investors and support portfolio inflows.
52% : India's markets regulator has recommended the government remove the long-term capital gains (LTCG) tax imposed on foreign investors, two sources with direct knowledge of the matter said, as India looks to galvanise its underachieving equity markets.
52% : The Securities and Exchange Board of India (SEBI) has also proposed tax relief for ‌domestic mutual fund investors, suggesting they be exempt from LTCG if â€"they are selling existing holdings to invest in new â€"ones, the sources said.
48% : Brokerage â€"firm IIFL estimates scrapping capital gains tax could lift foreign investors' returns by 2.3 percentage points.
47% : "The proposals are aimed ‌at reducing the upfront tax burden on foreign investors," one of the two sources said.

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