LTCG tax kitty from stocks to double to Rs 40K crore in FY20: Finance Secretary Hasmukh Adhia

LTCG tax kitty from stocks to double to Rs 40K crore in FY20: Finance Secretary Hasmukh Adhia

NEW DELHI: The government hopes to double its revenue from long term capital gains (LTCG) tax on stocks to Rs 40,000 crore in 2019-20 as more share transactions come in its fold with the waning of the grandfathering effect, a top official has said.

Defending the reintroduction of the tax after a gap of 14 years, Finance Secretary Hasmukh Adhia said if the salaried class pays up to 30 per cent income tax after toiling, it is only fair that those who make huge returns on stock mark ..

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