The lowering of corporate tax rate has triggered hopes that Finance Minister Nirmala Sitharaman will announce some relief on the personal income tax front in this year's Budget. Apart from some rationalisation in income tax rates, experts also expect the government to tweak dividend distribution tax and long term capital gains tax on listed securities. 3) Levying tax on long term capital gains (LTCG) on listed securities and Securities Transaction tax (STT) amounts to double taxation, say tax experts. In the Union budget of 2018, tax on long term capital gains on listed securities was reintroduced. 5) Pension fund regulator PFRDA has sought an increase in income tax benefit under NPS to ₹1 lakh in the upcoming Budget.

Source: Mint January 25, 2020 02:03 UTC