Meanwhile, Asian shares that edged higher on Tuesday, approaching record highs after the S&P 500 extended its winning streak, while the dollar steadied against its major counterparts.
Back home, the finance ministry is considering extending the holding period for short-term capital gains (STCG) tax on listed securities from one year to three years, bringing equities on a par with some other asset classes in tax treatment. This is among a number of measures for the capital markets that may be announced in the Union Budget for 2018-19.
The STCG tax on stocks and mutual funds is 15% at present. Listed securities held above a year do not attract any tax.
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