No proposal under consideration to scrap LTCG tax on equities, government clarifies

The government has clarified that there is no proposal under consideration to abolish the long-term capital gains (LTCG) tax on equity transactions for retail and domestic investors. Minister of State for Finance Pankaj Chaudhary made the statement in a written reply in the Lok Sabha, ending months of speculation over a possible rollback sought by some market participants to revive sentiment and ensure a level playing field between foreign and Indian investors.