TheNewsClues | Read the latest business economy and financial news in short. Business and financial news aggregator with news summary.
Swipe through the latest business and wealth clues with our android app
Clues by NC Team • 11 Jan 2019, Friday

Two umbrella bodies of brokers — Association of National Exchanges Members of India (ANMI) and BSE Brokers Forum (BBF) — have submitted a list of demands that include exemption from long-term capital gains (LTCG) tax on shares held for over three years, abolition of stamp duty on stock exchange transactions, rationalisation of securities transaction tax (STT) in equity derivatives and an alternative mechanism for dividend distribution tax which, according to brokers, leads to triple taxation.

Read More at The Hindu
Clues by NC Team • 3 Jan 2019, Thursday

The LTCG tax had little impact in FY19 since the deep correction in the mid and small-cap stocks in 2018 eroded gains from over 80% of the shares. Data from Bloomberg shows that 862 out of 1,058 stocks of BSE Allcap index[1] turned negative returns since the benchmark January 31, 2018. LTCG tax of 10% was reintroduced with effect from April 01, 2018. If the shares were purchased anytime before January 31, 2018, the closing price of the stock as on January 31 would be deemed purchase price. In other cases, the original purchase price will be considered. 

Read More at The Economic Times

©2019 TheNewsClues