Indian budget likely to cut tax rates for individual taxpayers, sources say
The Indian government is likely to trim personal income tax rates and cut the tax on long-term capital gains from equity investments in its next budget, in a bid to spur economic growth, four government officials
Finance Minister Nirmala Sitharaman is expected to present the budget for 2020/21 fiscal year on Feb. 1. She has promised a budget that will do more to boost growth.
Another government official said a proposal to relax long- term capital gains on stock investments was under consideration, to attract investors.
"There are various suggestions, including completely removing it," the official said, adding the issue was discussed at the level of the Prime Minister's office. He said a final decision was still to be taken.