{
  "id": 17043665,
  "title": "Abolish LTCG, rationalise STCG, STT rates on equities: PHDCCI to Finance Ministry",
  "url": "https://urgent.news/2026/10/29/abolish-ltcg-rationalise-stcg-stt-rates-on-equities-phdcci-to-finance",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T09:47:53.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/policy/abolish-ltcg-rationalise-stcg-stt-rates-on-equities-phdcci-to-finance-ministry/articleshow/135299950.cms"
  },
  "original_language": "en",
  "account": "The industry chamber PHDCCI has written to the Indian income tax department, proposing the abolition of Long Term Capital Gains (LTCG) tax on equities and the rationalisation of Short Term Capital Gains (STCG) and Securities Transaction Tax (STT) rates to encourage more foreign investment in the Indian stock markets. PHDCCI suggests increasing the holding period for an investment to be considered long-term from 12 months to 18-24 months. The industry chamber also recommends reducing the tax on short-term capital gains from 20% to 10% and lowering STT rates. With both LTCG and STCG taxes, there is currently double taxation on investments in equities, which PHDCCI believes can be mitigated through rationalisation. Additionally, PHDCCI argues that a more balanced tax regime can stimulate economic activity and generate additional revenue for the government. The government has budgeted to collect Rs 73,700 crore from STT in the current fiscal year, up from Rs 57,522 crore in the previous fiscal year. However, Foreign Portfolio Investors have pulled out record amounts of money from Indian equities, leading PHDCCI to urge the government to improve India's investment appeal.",
  "summary": "PHDCCI has recommended abolishing Long Term Capital Gains tax and modifying short-term capital gains taxes. The chamber suggests increasing the holding period for long-term investments to attract genuine investors. It emphasizes that current tax structures discourage investment due to double taxation on equities. Foreign Portfolio Investors have withdrawn significant funds from Indian equities,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Business Standard IN",
        "title": "India's GDP growth seen at 7.35% in Q2 FY27 amid risks: Finance ministry",
        "url": "https://urgent.news/2026/10/29/indias-gdp-growth-seen-at-7-35-in-q2-fy27-amid-risks-finance-ministry",
        "published": "2026-10-29T10:16:17.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}