Report
India’s long-term capital gains tax on foreign investors faces growing calls for repeal
Finance Minister Nirmala Sitharaman said she would consider calls to review the long-term capital gains tax.
TLDR
Calls to abolish the tax on foreign portfolio investors are growing as India’s equity markets see record capital outflows. The PHD Chamber of Commerce and Industry has asked the government to remove it. Edelweiss chairman Rashesh Shah says scrapping the tax could help draw foreign investors back and make India a permanent allocation in their portfolios.
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