House Panel Favours Abolition of LTCG Tax on Startup Investments

The Standing Committee of Finance chaired by the BJP lawmaker Jayant Sinha in its report suggested that the tax on LTCG (Long Term Capital Gains) should be removed at least for the next two years to encourage investments amid the pandemic. The report titled ‘Financing the startup ecosystem’ was released on 15 September and was submitted to the Lok Sabha speaker last week.

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