Govt may not raise time frame of long-term capital gains tax

It is unlikely that the government will raise the time frame of long-term capital gains tax to three years from the current one year given the market scenario.Recent reports have suggested that the government is mulling whether to change the definition of 'long term' from one year to three years, thus ensuring that investors don't exit till three years unless willing to pay tax.the government currently gets Rs 6,000-7,000 crore through the Securities Transaction Tax (STT) and will have to forego this assured sum if it goes ahead with increasing the time period of long-term capital gains.

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