News From Press How the world taxes capital gains on equity

How the world taxes capital gains on equity

Source: Mint Jan 25, 2023

India is one of the first few countries to introduce tax on capital gains and it did so in 1946-47 (this was made permanent in 1956). The then finance minister, T.T. Krishnamachari, believed that capital gains are an important factor in aggravating economic inequalities and thus taxing it was expected to lower the disparity in society.

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