Should market be worried about frothiness in some PSU stocks? Hiren Ved answers

economictimes.indiatimes.com:

«So, to cut it short, my view is that I hope this is probably from here on is a stable tax rate. If that is the case, then markets in the past have also adjusted to new realities. It is not the extent, but it is more of the principle and I think as the late Rakesh Jhunjhunwala would say, ke paisa kamaya to tax dena padega. So, I think we will take it in that spirit for now and hope that from here onwards, the tax rates remain stable,» says Hiren Ved, Director & CIO, Alchemy Capital Management.

Are you also feeling as unsettled that this may not be it and this could perhaps lead to more upping of taxes in the times to come?
Hiren Ved: Well, I hope not. I want to be optimistic on that count that hopefully, this for whatever reason was well thought out and from here on there will be stability in tax rates and this is not something that I am saying, I think the government itself on several occasions have mentioned that you need stability in tax rates over the long term. So, my feeling is that they had to rationalise taxes on capital gains across assets and hopefully, they have done that. If you take STP cap gains and cess on that, we are already paying reasonable amount of tax and it is not as if that the government was in need of revenue as such.

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