Edelweiss chief Rashesh Shah urges India to scrap capital gains tax for foreign investors
Edelweiss Financial Services Chairman and Managing Director Rashesh Shah urged India to consider removing capital gains tax for foreign investors, saying it could encourage them to return and make lasting allocations to Indian equities. Speaking in Mumbai, he joined calls for a tax exemption. Long-term gains on listed equities held for more than a year are currently taxed at 12.5%, while short-term gains face a 20% levy.