Return of Long Term Capital Gains Tax Spooks Markets

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Return of Long Term Capital Gains Tax Spooks Markets downloaded from : www.visionias.net downloaded from : https://t.me/Material_For_Exam follow us: saturday, february 3, 2018 Delhi City Edition thehindu.com 24 pages ț 10.00 facebook.com/thehindu twitter.com/the_hindu Health scheme will CBI les chargesheet House Republicans India meets Australia be well­funded, against Hooda, 33 release secret memo on in Under­19 World says Nadda others in land case Russian investigation Cup nal today page 8 page 9 page 10 page 13 Printed at . Chennai . Coimbatore . Bengaluru . Hyderabad . Madurai . Noida . Visakhapatnam . Thiruvananthapuram . Kochi . Vijayawada . Mangaluru . Tiruchirapalli . Kolkata . Hubballi . Mohali . Malappuram . Mumbai . Tirupati . lucknow NEARBY Naidu upset as A.P. CBI les DDA to introduce Return of long term capital uniform FAR appeal in NEW DELHI ‘ignored’ in Budget In a relief to traders Bofors case protesting against the gains tax spooks markets ongoing sealing drive in the TDP MP oers to resign in protest Legal Correspondent Capital, the DDA on Friday I I I NEW DELHI proposed bringing uniform Sharpest single­day BSE Sensex loses 840 Bond markets nervous K. Venkateshwarlu After a delay of more than oor area ratio for shop­cum­ fall in 15 months points, Nifty 256.30 ahead of RBI review VIJAYAWADA 12 years, the CBI on Friday residence plots and The Telugu Desam Party has led an appeal in the Su­ complexes on a par with SPECIAL CORRESPONDENT ing over 4% on Friday. Over­ started evaluating its op­ preme Court against the residential plots. MUMBAI/NEW DELHI all, over 2,500 stocks slipped tions, including an exit from quashing of charges DELHI METRO Ī PAGE 1 DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD India’s nancial markets on the BSE as against only the Bharatiya Janata Party­ against the accused in the went into a tailspin on Fri­ 295 gainers, which included led National Democratic Al­ 64 crore Bofors payos day, with benchmark equity Sensex heavyweights TCS, liance, with the Union Bud­ case, saying that “crime indices clocking the sharpest Hindustan Unilever and Wi­ get giving little to Andhra never dies and lapse of single­day fall in nearly 15 pro. The Budget has pro­ Pradesh. N. Chandrababu Naidu time is no bar to proceed months following the return posed an LTCG tax on equity After expressing disap­ against oenders, however of the long term capital gains instruments on all capital pointment with the Centre tion,” leaving the State im­ powerful they may be.” (LTCG) tax on equities in this gains exceeding 1 lakh at for oering “nothing in the poverished, he said. He was The 69­page appeal Budget. the rate of 10%, without of­ Budget for the State,” Chief hinting at the BJP meeting challenges the Delhi High Debt markets were also on fering any indexation benet Minister N. Chandrababu the same fate. Court decision of May 31, edge with bond yields soar­ that allows gains to be set o Naidu chaired the party’s A senior leader said Mr. 2005, to end all proceed­ ing in anticipation of higher against ination. coordination committee Naidu even pointed to the ings against the Europe­ interest rates due to the slip­ “Investors were disap­ meeting on Friday, at which BJP’s defeat in the Rajasthan based industrialist broth­ pages indicated by the 35,066.75 — a 2.34% decline must also contribute to the pointed with the LTCG tax he is reported to have dis­ byelections. ers S.P. Hinduja, G.P. Hin­ Centre on scal manage­ in one session. The broader tax kitty. coming in, over and above played his anger over the A formal meeting of the duja, P.P. Hinduja and M/s. ment. Nifty lost 256.30 points or “The market is adjusting. the securities transaction tax way the BJP had “slighted Telugu Desam Parliamen­ Kartongen Kemi Och For­ The BSE Sensex, which 2.33% to close at 10,760.60. As the market absorbs the in­ (STT) [paid on all stock the State.” tary Party is scheduled for valtning AB (formerly M/s had recovered after a 300­ The government ap­ formation there will be some trades],” said Anita Gandhi, Mr. Naidu, it is learnt, re­ Sunday. AB Bofors) in the Bofors odd point dip on Thursday peared to brush o the mar­ eect, some volatility... but wholetime director at Ari­ called that the decision to TDP MP from Narasarao­ scam, which rocked the Ra­ during Finance Minister ket’s sharp reaction as an ad­ nothing serious,” Economic hant Capital Markets. support the BJP in the 2014 pet Rayapati Sambasiva Rao jiv Gandhi government and Arun Jaitley’s speech, justment to the Budget’s Aairs Secretary Subhash All sectoral indices also elections was intended to oered to resign, if Mr. Nai­ involved the purchase of opened 200 points lower proposal and argued that the Chandra Garg told The Hin- ended in the red, with most get the Centre’s full support du directed him to do so, to 400 155mm FH 77­B guns and tumbled through the intent behind reverting to du. shedding over 3% each. in hand­holding the ed­ protest against the Centre’s and ammunition from the day till it touched a low of the LTCG tax was to bring Twenty­seven of the 30 gling State. The Congress injustice to the State. Swedish company for 35,006.41 — a net loss of 900 about parity in tax treatment Sensex stocks declined, with CONTINUED ON Ī PAGE 8 was decimated in Andhra 1473.72 crore in 1986­87. points. It recovered 60 of dierent asset classes and Reliance Industries, Maruti BUDGET CAUSED STOCK CRASH, Pradesh after betraying the CONTINUED ON Ī PAGE 8 CONTINUED ON Ī PAGE 8 points in the last few mi­ ensure that equities that Suzuki, Axis Bank, Bharti SAYS CONGRESS Ī PAGE 8 people by pushing through ‘MIX OF OLD SCHEMES’ Ī PAGE 8 RAJIV TOLD SWEDISH PM TO DELHI METRO Ī 6 PAGES nutes of trading to close at have delivered good returns Airtel and Bajaj Auto all fall­ GET CRACKING Ī EDITORIAL an “unscientic bifurca­ DESERT DEFEAT Ī EDITORIAL STOP PROBE: CBI Ī PAGE 8 CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC Jallikattu pleas go to Temporary pitch Nasheed promises to Constitution Bench contest elections again To decide if it is a cultural right Maldives SC overturns his conviction Krishnadas Rajagopal the gates for the conduct of Meera Srinivasan #4 1 3 9 7 5 NEW DELHI the popular bull­taming Colombo The Supreme Court on Fri­ sport in the name of culture Mohamed Nasheed, the ex­ day referred to a Constitu­ and tradition, despite a 2014 iled former President of the tion Bench to decide wheth­ ban by the Supreme Court. Maldives, said on Friday er the people of Tamil Nadu It is the rst time the that he hoped to contest the can preserve jallikattu as court is considering grant­ presidential polls this year, their cultural heritage un­ ing constitutional protec­ following a surprise Su­ der Article 29 (1) of the Con­ tion to jallikattu as a collec­ preme Court ruling that or­ stitution, and demand its tive cultural right under dered his immediate re­ protection. Article 29 (1), a fundamental lease. “Now that all my civil Former Maldives President A Bench of Chief Justice right guaranteed under Part and political rights have Mohamed Nasheed of India Dipak Misra and Jus­ III of the Constitution to been restored, I will be able tice Rohinton Fali Nariman protect the educational and to contest elections,” he told The development, in the referred to a ve­judge cultural rights of citizens. The Hindu in Colombo. wake of growing allegations Bench a batch of petitions “It has never been looked The Maldives witnessed of corruption and authori­ led by the People for Ethi­ into whether a State can turmoil on Friday, after the tarianism against President cal Treatment of Animals claim constitutional protec­ court late on Thursday nulli­ Abdulla Yameen, sparked and activists to strike down tion under Article 29 (1) for ed the convictions of Mr. violent clashes in Male bet­ the Prevention of Cruelty to what it thinks is a cultural Nasheed and eight others, ween the police and dissi­ Animals (Tamil Nadu right,” Chief Justice of India terming their trials “ques­ dents . While Opposition Amendment) Act of 2017 Dipak Misra had orally ob­ tionable and politically mo­ supporters demanded im­ and the Prevention of Cruel­ served when reserving the tivated.” Mr. Nasheed was mediate implementation of ty to Animals (Conduct of case for nal judgment at barred from contesting any the ruling, the police used Jallikattu) Rules of 2017. the previous hearing. election after his controver­ force to disperse the crowd, They contended that the Game on: Boys playing cricket outside theJamia Masjid in Srinagar on Friday. The authorities imposed restrictions in Srinagar sial 2015 conviction on a ter­ local sources said. PAGE 8 CONTINUED ON Ī PAGE 8 amended laws had opened CONTINUED ON Ī and Shopian to prevent a march by separatists to condemn the killing of ve civilians in recent days * NISSAR AHMAD rorism charge. CBI yet to take a call on appeal against Talwars They were released in October last year SPECIAL CORRESPONDENT NEW DELHI The Central Bureau of In­ vestigation (CBI) is yet to de­ cide whether it should le an appeal against the Alla­ habad High Court’s judg­ ment acquitting Rajesh and Nupur Talwar in the Aa­ rushi­Hemraj murder case last year. The Talwars were re­ leased from jail in October 2017 after the High Court ac­ quitted them. Rajesh and Nupur Talwar Three-month period Hemraj was found on the In murder cases, probe terrace. agencies are required to ap­ The case was initially in­ peal against acquittals with­ vestigated by the Noida pol­ in three months of such an ice, which arrested Dr.
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