India must rationalise LTCG on equities for foreign investors, says EisnerAmper CEO Charley Weinstein
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- ✓EisnerAmper Global CEO Charley Weinstein said India must rationalise long-term capital gains tax on equities to attract foreign investors.
- ✓He noted that the July 2024 tax hike to 12.5% and rupee depreciation hurt returns.
- ✓Weinstein said, "T need to rationalize long-term capital gains tax rates to maintain attractiveness."
Story at a Glance
- Category
- Indian Markets
- Reported By
- FortuneIndia
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
At a time when global investors compare opportunities across markets, the combined effect of taxation and currency movements matters, Weinstein said.
Global accounting and investment advisory firm EisnerAmper Global called for rationalisation of long-term capital gains (LTCG) tax on equities in India, as it is impacting post tax returns for foreign investors. The firm said depreciation in the rupee is also compounding the impact on the global investors.
"The increase in LTCG tax on listed equities from 10% to 12.5% in July 2024 has a direct bearing on post-tax returns. For foreign investors, this impact is compounded by rupee depreciation, which can further reduce the value of returns when converted into their home currencies," said Charly Weinstein, CEO, EisnerAmper Global in an exclusive interview with Fortune India.
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FortuneIndia
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