FIIs net sold stocks worth Rs 10,712 crore in the cash market, and index futures worth Rs 10,336 crore in the derivatives segment in the three trading sessions post Budget 2024.
The money raised through a higher capital gains tax will hardly add much to the Rs 24.4 trillion of revenue receipts and Rs 41.9 trillion of spending estimated for 2023-24
Experts say they may now be slightly better placed as customers looking for tax-free returns under Rs 5 lakh investment a year may now choose their guaranteed products
The govt's step could push investors to choose riskier equity, or to fall back on bank deposits, thereby negatively impacting the debt market which actually needs to grow, writes T N Ninan
The finance minister on Wednesday proposed to limit deductions from capital gains on investment in residential houses under Sections 54 and 54F to Rs 10 crore
At present, long-term capital gains on listed stocks are liable to 15% surcharge max, while other long term capital gains suffer a graded surcharge which goes up to 37%