Quote on Budget Reaction by Manish Jain, Director of Institutional Business at m.Stock by Mirae Asset
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Below the Quote on Budget Reaction by Manish Jain, Director of Institutional Business at m.Stock by Mirae Asset
LTCG rate is increased to 12.5% and the exemption is increased from 1.0 lac to 1.25 lacs. This tax rate of 12.5% is applicable on transactions from today. In a sense, this is retrospective. This could have been avoided.
Income from buyback of shares to be taxed in the hand of recipients; aligned like dividend distribution tax. The alignment is happening towards double taxation. It should have been the other way round that taxes on dividend should have been removed. STT is increased for F&O but this increase is not really meaningfully helpful to curb any speculation on retail segment. I think it’s over to SEBI now.
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