STT proposal
This refers to your editorial “Reality check on tax avoidance” (Business Line, September 4). The proposal to introduce General Anti Avoidance Rules in this year’s Budget has shaken the confidence of investors and affected the sentiments of the market. The Shome Committee’s suggestion to defer the implementation of GAAR brought a sigh of relief to the market. The move to do away with short term capital gains and enhance STT is a good suggestion. The STT can be different for purchase and sale transactions, for different volumes and for different securities. It can also be introduced for gold and silver transactions.
( This appeared in Business Line dated 5/09/12).
T.V.Gopalakrishnan
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