 "sebi")
The Comptroller and Auditor General of India (CAG) has written to the Securities and Exchange Board of India (Sebi) seeking an explanation on the loss incurred by the exchequer from misuse of the long-term capital gains (LTCG) exemption.
According to sources, the market regulator has identified loss worth Rs 150 billion due to price manipulation on the stock market platform to avail the LTCG benefit. So far, Sebi has passed nine interim orders in the matter.
Besides, the CAG has sought details of the manipulators.
Currently, LTCG is exempt from taxes. The Union Budget 2018-19 proposed to levy a 10
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