Markets slump on reports of govt planning higher capital gains tax
The report from Bloomberg noted that a panel or committee may be appointed to build on proposals submitted to the Finance Ministry in 2019 and the policy will likely be implemented in 2024 if the government returns to power.The details and structure of changes to the taxation are yet to be known. A capital gains tax is levied on income or gain that comes out from sale of a capital asset such as stocks and bonds
