SEBI backs removal of LTCG tax for foreign investors: Report- Moneycontrol.com

Contributing sentiments towards policy:

55% : Brokerage firm Jefferies in a note earlier this week said any reduction in capital gains taxes could improve the market's attractiveness for foreign investors and support portfolio inflows.
54% : Markets regulator SEBI 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% : Investors currently pay long-term capital gains tax of 12.5% for securities 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.
51% : 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 they are selling existing holdings to invest in new ones, the sources said.
48% : "The proposals are aimed at reducing the upfront tax burden on foreign investors," one of the two sources said.
46% : Brokerage firm IIFL estimates scrapping capital gains tax could lift foreign investors' returns by 2.3 percentage points.

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