Foreign Investors To Be Exempted From Super Rich Tax Introduced In Budget, Says Nirmala Sitharaman

Published on Aug 23, 2019
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CNBC Awaaz

Foreign Investors To Be Exempted From Super Rich Tax Introduced In Budget, Says Nirmala Sitharaman

Giving in to the demands of overseas investors, Finance Minister Nirmala Sitharaman on Friday announced a rollback of enhanced surcharge on foreign portfolio investors (FPIs) levied in the Union Budget.Surcharge on long and short term capital gains arising from transfer of equity shares has been withdrawn, Sitharaman said. "The pre-Budget position is restored," she said, adding that it was being done to encourage investment in the capital market.

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