Budget's focus on real economy to turbocharge economic growth: Nilesh Shah
«I think the STT on F&O is a step in the right direction. If the idea is to essentially curb volumes on the F&O side I think that is fair enough. I am just saying is that for a long-term investor, there is STT, there is a hike in LTCG, and there is a tax on dividends as well,» says Nilesh Shah, MD & CEO, Envision Capital.
You are unhappy for sure.
Nilesh Shah: I think logically, rationally, who is going to be happy with more taxes? We are all humans at the end of the day. But if the capital gains tax was hiked, STT is hiked, probably dividends, tax on dividends in the hands of the investors that should have been done away with because that is double taxation.
Let us look at quantum. It is like 10 becoming 2.5 and the long term, generally, definition you are trying to increase. One side, we are saying that, look, do not worry folks India is getting long term SIP money, that is the India story. For an SIP investor who is coming into India if that is the India story and if the F&O market has become frothy, then checks and balances have to come in. I mean, just think about it. I mean, if India is the SIP story, then nothing changes there.
Nilesh Shah: No, fair enough. I think the STT on F&O is a step in the right direction. If the idea is to essentially curb volumes on the F&O side I think that is fair enough. I am just saying is that for a long-term investor, there is STT, there is a hike in LTCG, and there is a tax on dividends as well.
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