Published on 14/03/2018 9:49:24 AM | Source: IANS

Received representations for LTCG tax withdrawal: Government

Posted in Economy News| #Economy #Government #Tax

The government has received representations from certain quarters requesting withdrawal of the proposed tax on long-term capital gains on equities in light of the falling stock markets, parliament was informed on Tuesday.

It added the decision regarding the same would be conveyed when the Finance Bill is discussed and passed in the parliament.

"Representations have been received requesting for withdrawal of the proposal to
introduce tax on long-term capital gains on listed securities introduced through the
Finance Bill, 2018," Minister of State for Finance Shiv Pratap Shukla told the Rajya Sabha in a written reply.

"The decision will be reflected in the official amendment, if any, to the Finance Bill, 2018 at the time of consideration and passing by the parliament," he added.