Should Long term capital gains above 5 crores for a financial year be taxed.is that a practical idea

Long term capital gains are tax free in india. whether LTCG is 1 lakh or 1000 crores it is tax free. will it be a good thing to tax LTCG above 5 cr for a fin year taxed at 20% and like wise for upper slabs of LTCG.
share ur thoughts.

 

Tax on super rich is not bad idea IMHO.

 

For next 5 years it is OK ,but after that it must be increased to 10 Crore as if present market bull run continue ,who knows few of small investers in this form may hit your proposed limit .

 

When one makes 5 crore of profit in a year (even if it is LT), he or she is not a part time investor. To earn such kind of profit, one has to be active and following market closely. Like, it is a full time job and hence one should pay the tax. Though, there are some exceptions like Employee Stock Plan where you accumulate huge amount of wealth while working there which in my opinion should be tax free but overall anything above 1 crore and person has no other income from work (NO BUSINESS INCOME because that's a gimmick) should be taxed.