There’s one popular line which aptly describes the current scenario - Aag lagi hai basti me, Apan apni masti me 
Extraordinary volatile times bring in worst type of rumours in the market. Today was one such case.
- This news kind of spooked many players in the market and it rightly should. We have hardly completed the budget last month. with almost a year to go, it makes little to zero sense for the govt to tax more (not that they wouldn’t - govts are known to make crazy self goal decisions )
But as they say- There’s no smoke without fire. - so who knows ?
Rumour was responded by another source based stuff 
https://twitter.com/CNBCTV18Live/status/1503681681282109442?s=20
With equity culture starting to grow in our country and markets being the fully digital form of business, any adverse move done to markets can again take us by a decade. Just hope sanity prevails both in our policy makers brain and across the world 
I don’t think its unfair though. 10/15% is very low, and further it only gets applied when you sell so you can easily keep compounding by holding long term.
Ask yourself - should jhunjhunwala only pay 10% after making 1000s of crores over many years ?
ofc there are other things that could be changed and entire thing should be simplified.
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Why only Mutual funds can transact without tax implications. Individuals should be able to have specific accounts which are taxed only on money withdrawal. If your favored Index fund suddenly increases expense ratio unreasonably, why cant i shift to another without CG tax. And why cant I manage my own portfolio without transaction level taxes. This way retirement accounts can keep compounding and there is good incentive for long term investments.
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Long term taxation should have indexation
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Why add so much complication by arbitrarily marking active trading as business and forcefully applying complicated and unclear business taxation over it. Right now, they do it because taxes are so low for CG, ideally its all CG and you can have simplified taxation and perhaps even 1 click data export for everyone.
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Bigger issue is that we have lot of concentration of wealth with people who don’t have to sell. Bezos Ambani etc - how much % of net worth would they have paid as taxes directly. This is complicated ofc, but right now rules heavily favor the very rich. Some it seems even take loans at low interest rates to avoid paying CG … Anyway, this probably will never happen.
Ideally tax rates get lowered and everyone pays fair taxes as per money/wealth made.
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