Govt comments on long-term capital gains tax uncalled-for: ALMT

Speaking to CNBC-TV18 Aliff Fazelbhoy, Senior Partner at ALMT Legal, said that the PM’s speech over the weekend on tax was uncalled-for. It creates uncertainty and we don’t know what they have in mind. “I don’t know what the PM has in mind. FM’s comments are wishy-washy.”

He mentioned that the obvious thing would be to increase the STT marginally, but to my mind they shouldn’t do anything, he added.

If capital gains tax, currently at 15 percent, is hiked up to 20 percent it is going to disturb the FPIs, he said.

Regarding GST he said it will be postponed. The Budget being advanced is a good move, he said, adding that people are prepared for General Anti-Avoidance Rules.Watch video for more...