New Delhi, Nov. 10 -- The PHD Chamber of Commerce and Industry (PHDCCI) has urged the government to abolish long-term capital gains (LTCG) tax on equity investments and reduce short-term capital gains (STCG) tax from 20 per cent to 10 per cent as part of its recommendations for the Union Budget 2027-28.

The industry body submitted its pre-Budget recommendations during a leadership meeting with Union Finance Minister Nirmala Sitharaman, seeking reforms to encourage investment in capital markets and improve access to finance for micro, small and medium enterprises (MSMEs).

In its recommendations, PHDCCI proposed the "abolition of LTCG tax on equity investments, reduction of STCG tax from 20% to 10%, and lowering of STT rates" to encourage...