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Why are capital gains from share markets exempted while salaried employees are taxed heavily?
Manuram Jaipuria, Jodhpur
While short term capital gains from share market are taxed at a flat 15 per cent, long-term gains are completely exempt from tax.
Of course both are subject to Securities Transactions Tax which while setting the government's cash registers ringing given the high turnover in the bourses, gives the distinct impression that the government is indulging the wealthy .
Therefore it must be brought back into the tax net to usher in horizontal equity, if not for revenue considerations.
The original draft DTC promised to do this, but the DTC Bill has quietly restored the status quo .
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