Business »  Topic »  Government withdraws enhanced surcharge on FPIs

Government withdraws enhanced surcharge on FPIs

New Delhi: Nirmala Sitharaman during a press conference has announced to withdraw enhanced surcharge on FPIs (Foreign Portfolio Investors). FM Sitharaman has also said that the pre-budget position has been restored on a surcharge on domestic investors as well.

FM Sitharaman said, " It has been decided that the enhanced surcharge levied on FPIs on the long term and short term capital gains on equities go."

Data showed FPIs have pulled out Rs 23,000 crore from domestic equities in July and August, as the Budget proposal to levy a surcharge on higher tax-income groups affected 40 per cent of FPIs ...

Read the full text Times Now - ET Now