Date:01/03/2005 URL: http://www.thehindubusinessline.com/2005/03/01/stories/2005030100662200.htm
Back `Capital gains tax benefit not extended'


Mr Nimesh Kampani, Chairman and MD, JM Morgan Stanley

INCREASED STT on all transactions has been handled well with a marginal increase, although STT on mutual fund unit transactions is unwarranted as it would tantamount to double taxation. There has been disappointment that the benefit of the capital gains tax reduction has not been extended to other forms of transactions such as buybacks (tender route), open offers, spot delivery transactions and offers for sale through offer documents, such as IPOs, ADRs/GDRs

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