Tax hike on STT, STCG a minor tinkering: NSE chief

Mumbai: Largest equity bourse NSE’s Chief Executive Officer and Managing Director Ashish Chauhan on Tuesday termed the Budget’s moves on securities transaction tax and short-term capital gains tax as ‘minor changes,’ which will not impact markets much.

On the correction in markets right after these announcements by Union Finance Minister Nirmala Sitharaman in her budget speech, Chauhan said the sell-off is a result of investors not understanding the implications of the moves. Chauhan said the market was expecting larger moves in the Securities Transaction Tax (STT) and Short-Term Capital Gains Tax (STCG) front.