Discussions over Long-term Capital Gains Tax (LTCG) have been doing rounds ever since it was announced in the Budget 2018 by Finance Minister Arun Jaitley.
Jaitley announced levying of 10% tax on stocks and equity-oriented mutual funds if the gains exceeded Rs 1 lakh.
The markets witnessed a continuous bloodbath after the announcement, with the benchmark indices pulling down by at least 1,000 points.
So what is LTCG and why did it negatively affect the markets? Surabhi Upadhyay has more details.