'Single formula for capital gains tax needed'

Union Budget 2020: Single formula for capital gains tax needed

(Credit: iStockPhoto)

By Gaurav Rastogi

We expect the budget to be expansionary and to support growth. Wealthtech can benefit from two specific changes. Capital gains taxation in its current form are quite complex and a deterrent to investors. A single formula for capital gain taxes across categories can go a long way in simplifying this for the average investor. Similarly, a simplified KYC process can work wonders for financial inclusion. For a transaction originating from a KYC compliant source, say a Mutual Fund investment from your KYC compliant bank account, no additional KYC should be required.

(Gaurav Rastogi is the Founder & CEO of Kuvera.in)