India News | No Proposal Before Govt on Capital Gains Tax: I-T Dept

New Delhi, Apr 18 (PTI) The Income Tax Department on Tuesday said there is no proposal before the government on capital gains tax.

The department in a tweet said: "It is clarified that there is no such proposal before the Government on capital gains tax".

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A media report earlier in the day said India is preparing an overhaul of its direct tax law, including changes in capital gains taxes.

Following the report, the equity market benchmark Sensex declined 331 during the intra-day trade. It later recovered some losses and closed 183.74 points lower at 59,727.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)