New Delhi, Nov. 11 -- The PHD Chamber of Commerce and Industry (PHDCCI) has urged the government to abolish long-term capital gains (LTCG) tax on equity investments, cut short-term capital gains (STCG) tax from 20 per cent to 10 per cent and lower securities transaction tax (STT) rates in its recommendations for the Union Budget 2027-28.

The chamber submitted its pre-Budget proposals during a meeting with Union Finance Minister Nirmala Sitharaman, seeking measures to encourage investment, improve capital market competitiveness and strengthen access to finance for micro, small and medium enterprises (MSMEs), ANI reported.

Under the current provisions, LTCG exceeding Rs 1.25 lakh on eligible equity investments is taxed at 12.5 per cent. ...