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Daily Tax Report: International

Investors in India Hope to See Tax on Equity Gains Scrapped

Jan. 22, 2020, 12:00 AM

Removal of the long-term capital gains tax and measures to boost consumption are high on equity investors’ wish list from India’s federal budget due Feb. 1.

With the economy facing its worst growth, investment and jobs crisis in more than a decade, Finance Minister Nirmala Sitharaman needs to offer support for individuals and businesses. The scope may be limited, however, amid concern over a larger than projected deficit.

“The government cannot afford to tighten the belt too much,” Hartmut Issel, head of APAC Equities at UBS Global Wealth Management, said by email. Still, the administration is in...

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