Budget 2018: India Inc unhappy at 10% long-term capital gains tax levy

Gains above Rs 100,000 made on sale of mutual funds and listed stocks will be taxed at 10% after a year

Captains of industry have been miffed by the government imposing the long term capital gains (LTCG) tax in the Union Budget.
 

The jovial atmosphere at the Federation of Indian Chambers of Commerce and Industry (Ficci) stopped as soon as Finance Minister Arun Jaitley confirmed that the long awaited LTCG tax would indeed be levied from now. However, corporate honchos regained their composure faster than the stock market which was still losing out at the time of writing this report.