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

Discussion in 'Ask A Query About Your Stock Picks And Portfolio' started by w4wealth, Apr 7, 2017.

  1. w4wealth

    w4wealth Well-Known Member

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    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.
     
    Srouta Mukherjee likes this.
  2. Srouta Mukherjee

    Srouta Mukherjee Well-Known Member

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    Tax on super rich is not bad idea IMHO.
     
  3. kharb

    kharb Well-Known Member

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    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 :) .
     
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  4. Bulls - Bears

    Bulls - Bears New Member

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    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.
     
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