The government has approached tax advisers and experts on the possible implications of removing tax on long-term capital gains (LTCG) introduced amid much criticism in the FY19 budget. Government officials, tax advisers say, are considering options to attract more foreign long-term investment and one proposal is to do away with LTCG tax on listed equities.
The government may also tweak the definition of ‘long term’ from a year to two years, people with knowledge of the discussions said. ..
