TAX ON CAPITAL GAINS FROM STOCK MARKET
The industry,industrialists always pressure or they are the part of Govt so all benefits are snatched by them or rules/ taxes laws are made favorable to them. A common man pays a tax on earning an income of Rs.2.5 lacs /Rs3 lacs(senior Citizen). But rich persons make capital gains of crores of rupees but do not pay taxes as these are exempted. Why these people are not to be taxed. Why in the present budget there may be provision that Long Term Capital gain from stock market above Rs.5lacs/10 lacs per annum will be accounted for income tax payment as per relative slabs of Assesee . Common man be given tax reliefs in taxes . Such type of steps can bridge some distance between very rich and common man. more
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As some one said One needs to spend more effort to get same amount by Income tax - Let them collect more money by GST and let them not levy taxes such as Capital gains - It is discouraging tax for a person to improve the value of his money invested. There can be transaction tax or Sales tax which can never be avoided by making it transparent. Why do you dig into any ones accounts which can instil feeling to hide more. Better GST can be made more transparent and accountable. Instead there can be GST when ever any one sells shares may be 5.00% which can be made clear and transparent than Capital gain tax. It may be better. more
Jan 24
Sir everyone TV Channel ,politicians , anchors all emphasis on levying tax but none make a campaign against Govt for shedding wasteful expenditure. Crores of ruppes can be saved by spending more wisely. Moreover GST affects everybody but levying capital gain tax after exemption of Rs5 lacs will affect only to rich whose holdings are in crores. more
Jan 24
The simple and easy option is ABOLISH INCOME TAX and wind up Income Tax Department to save the resources. more
Jan 23
It will also stop corruption in evading tax. more
Jan 23
Term capital Gain as well as interest on saving be exempted to the limit of 24 lacs because, a family if invest his assets/money for his livilihood to meet expenses of Rs2/-lacs he should be exempted like farmers, exceeding 24 lacs may be uniformly taxed. more
Jan 23
ALL THESE GAINS MUST STOP. THEY ARE SIMPLY LOOTING UNDER SOME PERTEXT. SYSTEMATIC LOOTING. more
Jan 23
It is not only long term capital gain but entire agriculture income is also exempted.Do you think income above Rs.10 Lakh is small farmer?if it is so than a businessman or trader is also small entrepreneur and he should also get exemption. Actual thing is majority politicians are themselves farmers and they don't want their income to be taxed!! Coming to long term profit, it was replaced by STT (Securities Transaction Tax) which is levied irrespective of profit and on original capital invested too. Again Govt. get STT within few days of transactions whereas Long term capital gain received quarterly or yearly. more
Jan 23
Agree absolutely that agriculture income exemption is one of the source of generation of Black Money. But due to political reasons and WEAKEST OR NO WILL POWER of politicians it cannot happen. But as per report 1% people are having 73% of wealth of nation. The gap between rich and poor increasing. Rich persons who invested crores of rupees in Share market and have capacity to retain it more than one year they get capital tax exemption and common man is taxed having income above Rs2.5 Lacs more
Jan 24
Tax on agriculture income should be the first priority instead of discussing tax on long term capital gains. This ‘declared’ income, at times (e.g., 2011-12), has been much more than the GDP of the country and politicians (both ruling and opposition parties), finance ministry, tax authorities, etc. stay quiet on this issue. Tax exempt agriculture income is likely used to convert a big chunk of ill-gotten income into legitimate wealth. more
Jan 23
