After the scam in PNB was revealed, PSU banks have lost nearly Rs 70,000 Cr in the market without "any effort" . Ultimately it is aam investor and aam aadmi who have to bear it !!!More losses may be on its way. Meanwhile Mama-Bhanja(Shakuni-Duryodhana) must be having fun sitting abroad. Who knows Mallya may have joined them !!!
Shares have always had an element of risk. There are any number of dud stocks which came by way of IPO's. A very large percentage have gone into liquidation or just disappeared. Now the immediate fallout will be twofold. First FII's will have a serious rethink and in all probability will move sum funds to more equity favourable countries and the Indian public will revert to other forms of investment. Share markets are not likely to go up in a hurry. Hence the plan to get additional tax via LTCG appears farfetched.
By the way, people who bought stock till 31st January,2018 did so on the basis of existing rule of LTCG exemption. But now they will be forced to pay LTCG tax. So Govt is not following its own rule. In a similar way, Govt can hike rate to 20 % or whatever in 2019 . Is this correct ? Will it stand in a court of law ? How people can have faith in tax rule ? Incidentally FM is a leading lawyer .
By the way, people who bought stock till 31st January,2018 did so on the basis of existing rule of LTCG exemption. But now they will be forced to pay LTCG tax. So Govt is not following its own rule. In a similar way, Govt can hike rate to 20 % or whatever in 2019 . Is this correct ? Will it stand in a court of law ? How people can have faith in tax rule ? Incidentally FM is a leading lawyer .
By the way, people who bought stock till 31st January,2018 did so on the basis of existing rule of LTCG exemption. But now they will be forced to pay LTCG tax. So Govt is not following its own rule. In a similar way, Govt can hike rate to 20 % or whatever in 2019 . Is this correct ? Will it stand in a court of law ? How people can have faith in tax rule ? Incidentally FM is a leading lawyer .
"This is a gain which is not accruing from any effort, but is just an investment gain". Such thinking comes from Nehruvian socialism. We saw the result in 1991. By "no effort" logic, there must not be any stock market at all !!! Lets abolish it !!!!In fact this applies to fixed deposit also !!! What effort is required to get interest on it ? Why Govt gives so much incentives to FII etc ? Do they(FIIs) make a "lot of effort" to earn money? By "no effort" logic, basically savings should be banned !!! Work , earn and spend !!!! No saving, no investment ,no return !!! What kind of idiot is this fellow ? And he is a top Govt official to boot !!! No doubt Billionaires-like Nirav Modis, Mallyas etc- steal billions of dollars of public right under the nose of such idiots(or corrupt babus ?). Or may be these Billionaires made a "lot of effort" to deserve this money ?
"This is a gain which is not accruing from any effort, but is just an investment gain". Such thinking comes from Nehruvian socialism. We saw the result in 1991. By "no effort" logic, there must not be any stock market at all !!! Lets abolish it !!!!In fact this applies to fixed deposit also !!! What effort is required to get interest on it ? Why Govt gives so much incentives to FII etc ? Do they(FIIs) make a "lot of effort" to earn money? By "no effort" logic, basically savings should be banned !!! Work , earn and spend !!!! No saving, no investment ,no return !!! What kind of idiot is this fellow ? And he is a top Govt official to boot !!! No doubt Billionaires-like Nirav Modis, Mallyas etc- steal billions of dollars of public right under the nose of such idiots(or corrupt babus ?). Or may be these Billionaires made a "lot of effort" to deserve this money ?
if the profits are taxed , can losses be accounted for in taxation, for an investment of 10 lakh, in last financial year , a person losses 3lakh, and gains this year 3lakh, then where is the profit?
