Scrap LTCG! Sebi backs foreign investors' tax push

What happened: Sebi has proposed scrapping long-term capital gains tax for foreign investors and extending tax relief to mutual fund investors, according to a report. Why it matters: The proposal is designed to counteract the high capital gains taxes and transaction costs faced by foreign entities and to enhance the overall attractiveness of India's equity market.

Sebi has proposed scrapping long-term capital gains tax for foreign investors and extending tax relief to mutual fund investors, according to a report.

The proposal is designed to counteract the high capital gains taxes and transaction costs faced by foreign entities and to enhance the overall attractiveness of India's equity market.