Sunday, Mar 3 2024 | Time 13:31 Hrs(IST)
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Business Economy


ANMI submits proposal to CBDT for reforms in Union Budget 2023

Mumbai, Nov 28 (UNI) The Association of National Exchanges Members of India (ANMI), on behalf of its 900 stock-brokers of national exchanges, has submitted a proposal to Central Board of Direct Taxes chairperson Nitin Gupta recommending for the much-needed reforms in upcoming Union Budget 2023 for its positive impact on development of the Indian Capital Market.
ANMI's leadership team met Gupta in Delhi last week and presented their suggestions for their consideration.
Commenting on the development, Kamlesh Shah, president of ANMI, said, “For enhanced GDP growth, the Government needs to incentivise and encourage equity investment. In this regard, we have submitted our recommendations which covered challenges that should be addressed in the upcoming Union Budget. Implementing these reforms would have a significant impact on the growth and development of our markets.”
ANMI had made various recommendations which includes to provide Tax Exemption up to Rs one lakh in Short Term Capital Gains under section 111A, reduction in classification of income and industry status for SEBI registered market intermediaries and others, he added.
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