Sensex zooms past 2,000 points after coporate tax slash

Domestic equity benchmark BSE Sensex spiralled over 2,000 points in morning session today after Finance Minister Nirmala Sitharaman announced  slew of measures to boost manufacturing and revive the sagging economy.

In a major booster to the market, the government has decided to not levy the enhanced surcharge introduced in the Budget on capital gain arising on sale of equity shares in a companies liable for securities transaction tax.

Also, the super-rich tax will not to apply on capital gains from sale of any security including derivatives in hands of foreign portfolio investors. In another relief, Sitharaman said listed companies which have announced buyback of shares prior to July 5 will not be charged with super rich tax.

 

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