PHD Chamber seeks capital gains tax rationalisation, doing away with BCD on feedstock
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- ✓The PHD Chamber of Commerce and Industry urged the government to abolish long-term capital gains tax and cut short-term rates in its pre-Budget recommendations for FY28 submitted Tuesday.
- ✓The body also sought to remove basic customs duty on key feedstocks to help businesses and improve India’s overall manufacturing competitiveness.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The PHD Chamber of Commerce and Industry has urged the government to abolish long-term capital gains tax on equity investments, cut short-term capital gains tax to 10% and reduce securities transaction tax (STT) rates in its pre-Budget recommendations for FY28.
New Delhi: Industry chamber PHD Chamber of Commerce and Industry has urged the government to abolish long-term capital gains (LTCG) tax on equity investments, halve the short-term capital gains (STCG) tax to 10% and lower securities transaction tax (STT) rates.
In its pre-Budget recommendations for FY28 submitted to finance ministry Tuesday, it also suggested to improve access to equity financing for businesses particularly MSMEs, eliminating basic customs duty (BCD) on rayon-grade wood pulp, LNG, naphtha and certain heavy petroleum feedstocks, while seeking lower duties on petroleum coke used in aluminium manufacturing.
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Economic Times
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