It’s over a week since the budget on 23rd July came out with announcements of…
increase in long term capital gains (LTCG) tax on equity to 12.5 per cent from present level of 10 per cent, with short term capital gains (LTCG) tax being raised to 20% from 15%.
Markets closed on a negative note then. The budget day, BSE Sensex plummeted as much as 660 points below crucial level of 80,000. Nifty too was below 24,500. The S&P BSE Sensex and NSE Nifty 50 dropped about 1.5%-2% each.
Not good news for investors! As per market pundits, it would discourage them.
So, now the equity traders will have to pen down more tax for their trades.
For cautious long-term investors, would the increase from 10% to 12.5% really make a dent in the larger gains or it will support a stable investment environment with steady capital market expansion.
Watch it.