Prime minister narendra modi strongly hinted on Saturday at the prospect of higher taxes on income from stock markets saying people making profits from the markets must contribute to nation building through taxes.
At present, gains from the stock market enjoy easier taxes compared to incomes from many other sources, including bonds and fixed deposits, Coming from the PM a little over a month before the budget financial sector players feel tax on long term capital gains may be imposed in company formation in India.
Those who profit from financial markets must make a fair conritbution to nation building through taxes. For various reasons. The conritbution of tax from those who make money on the markets has been low. To some extent, it may be due to illegal activities and fraud. To stop this Sebi has to be extremely vigilant in company incorporation in India. The low contribution may also be due to the structure of our tax laws. Low or zero tax rate is given to certain types of financial income. I call upon you to think about the contribution of market participants to the exchequer. We should consider methods for increasing it in fair, efficient and transparent way.
get more information visit at: http://bit.ly/2hsMCGc