Financial Daily from THE HINDU group of publications
Tuesday, Mar 01, 2005
Financial Daily from THE HINDU group of publications Tuesday, Mar 01, 2005 |
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Markets
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Stock Markets `Capital gains tax benefit not extended'
Mr Nimesh Kampani, Chairman and MD, JM Morgan Stanley INCREASED STT on all transactions has been handled well with a marginal increase, although STT on mutual fund unit transactions is unwarranted as it would tantamount to double taxation. There has been disappointment that the benefit of the capital gains tax reduction has not been extended to other forms of transactions such as buybacks (tender route), open offers, spot delivery transactions and offers for sale through offer documents, such as IPOs, ADRs/GDRs
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