Centre to review capital gains tax structure, says Revenue Secretary Tarun Bajaj - Know Anil Singhvi's take
The central government is going to review the tax structure of capital gains. Tarun Bajaj, Revenue Secretary, informed about this on Wednesday at a CII programme.
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The central government is going to review the tax structure of capital gains. Tarun Bajaj, Revenue Secretary, informed about this on Wednesday at a CII programme. Zee Business Managing Editor Anil Singhvi believes that the government is thinking towards the right direction on capital gains tax.
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"We need to have an absolute re-look at capital gains," the Revenue Secretary said. "The holding period is too complicated that we have created, for real estates, we have made it 24 months, for shares, it is 12 months, for debt it is 36 months. So, we really need to work out on that," Bajaj added.
सरकार कैपिटल गेन्स के नियमों की समीक्षा पर विचार कर रही है:तरुण बजाज,रेवेन्यू सेक्रेटरी
कैपिटल गेन्स नियमों पर और क्या कहा तरुण बजाज ने जानिए इस वीडियो में...#ZeeBusiness LIVE https://t.co/QTsT7fZ0ea #TarunBajaj #capitalgains @AnilSinghvi_ pic.twitter.com/NpX88togjO
— Zee Business (@ZeeBusiness) February 9, 2022
Bajaj also said that for the sale of the industry or the real estate linked to the industry, they also should be covered in the capital gains. He said that they will have to work on this to find out what are the rates and what are the periods elsewhere in the world - both the developing and the developed nations. "The problem is that some of the people will be losers as compared to their present provisions," he added.
Anil Singhvi said that the government is thinking in the right direction. "There are certain things that have to be thought over. Firstly, if any form of consistency can be brought over the assets under capital gains. Secondly, time periods of capital gains tax are also different for different categories and their rate also vary. So, if all of these can be combined together towards a single direction," Singhvi noted.
Singhvi cited how at the Budget 2022, the government announced that sur charge will not be more than 15 per cent. So, the capital gains tax can also attain some uniformity towards this direction.
The Market Guru noted that this is a thought towards the right direction from the government and should be executed at the earliest.
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