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Broking stocks slip on LTCG reintroduction

Broking stocks slip on LTCG reintroduction

NEW DELHI: Shares of brokerage firms slipped in the trade after Finance Minister Arun Jaitley reintroduced long-term capital gains tax in Budget for 2018-19.
The government today introduced long-term capital gains (LTCG) tax of 10 per cent on stock market gains exceeding Rs 1 lakh, sending the market tumbling. Anita Gandhi, Whole Time Director at Arihant Capital MarketsBSE 1.79 % said the LTCG is expected to disappoint the equity market to some extent.