Stockbrokers’ Body Seeks Capital Gains Tax Relief, Higher Dividend Tax Limit

The Association of National Exchanges Members of India is seeking exemption of short-term capital gains up to Rs 1 lakh and raising the threshold for tax on dividends.

The ANMI, which represents 900 stockbrokers of national exchanges, met with Nitin Gupta, chairperson of the Central Board of Direct Taxes, to present its recommendations for the upcoming Union Budget.

“For enhanced GDP growth, the government needs to incentivise and encourage equity investment,” the ANMI said in a statement.

“Implementing these reforms would have a significant impact on the growth and development of our markets,” it said.

In Budget 2023, the association sought:

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