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)
Published 29 January 2020, 16:44 IST