Equity Markets Dampen on LTCG, MF Tax | CORPORATE ETHOS

Equity Markets Dampen on LTCG, MF Tax

By: | February 1, 2018
market sentiment

India’s equity market has not enthusiastically responded in morning trade as news of Long Term Capital Gains Tax of 10%  on sale of equities was announced by Arun Jaitley, Union Finance Minister in his Budget speech on Thursday.

Among the other measures that may have dampened the markets include a tax of 10% on distributed income of equity oriented funds. Long term capital gains exceeding Rs 1 lakh from sale of equities to be taxed at 10% without allowing benefit of indexation if the shares are sold after January 31, 2018.The BSE Sensex fell 0.32% to 35851 while Nifty  fell  0.19% to 11,006,50. As many as 32 shares have declined in Nifty