ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Taxing Capital Gains or Transactions

While the finance minister is motivated primarily by revenue considerations in his approach to transaction tax by providing exemption on long-term capital gains and slashing the rate on short-term capital gains, he may have unintentionally provided additional loopholes for tax avoidance. For revenue maximisation and the efficacy of the tax system, there is a case for a uniform rate of taxation of income without differentiating on the basis of the source of income.

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