Prime Minister Narendra Modi strongly hinted on Saturday at the prospect of higher taxes on income from stock markets saying people making profits from the markets must contribute to nation-building through taxes.
At present, gains from the stock market enjoy easier taxes compared to incomes from many other sources, including bonds and fixed deposits.
Coming from the PM a little over a month before the Budget, financial sector players feel tax on long-term capital gains may be imposed.
The remark assumes added significance since finance minister Arun Jaitley and his deputy, Arjun Meghwal, were present at the opening of a new campus of the National Institute of Securities Market.
