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Higher Taxes on income from stock market, says Prime Minister

Modi, Mumbai: The Prime Minister Modi strongly hinted on Saturday at the like hood of higher taxes on income from stock markets. He said people making profits from stock markets must contribute to nation-building through taxes.

At present, gains from the stock markets enjoy easier taxes compared to incomes from any other sources, including bonds and fixed deposits.

Statement coming from the PM a little over a month before the budget, financial sector players feels tax on long term capitals gains may be imposed.

The remark assumes added significance since finance minister Arun Jaitley and Deputy Arjun Meghwal, were also present at the opening of a new campus of National Institute of Securities Market.