Is Government Of India Sleeping Partner Of Retail Investors Brokers Know Finance Minister Nirmala Sitharaman response

Tax On Stocks In India: At BSE, the oldest stock exchange in Mumbai, Finance Minister Nirmala Sitharaman could not stop laughing when a retail investor described himself as a working partner and the government as a slipping partner. Sleeping Partner) which is taking away all the profits by imposing various types of taxes on the income earned from investing in shares. The investor wanted to know the answer to the question from the Finance Minister. So in her reply Finance Minister Sitharaman said, I do not have the answer to this and the sleeping partner cannot even answer this here.

Finance Minister came clean bowled by retail investor's question!

In fact, regarding the Lok Sabha elections, Finance Minister Sitharaman is roaming around the country and telling about the works of her government among the enlightened people and she is mentioning the works which are on the agenda of the Modi government after coming to power for the third consecutive time. In this connection, on Tuesday, May 14, 2024, the Finance Minister addressed the BSE in Mumbai regarding Developed India 2047. After the Finance Minister's address, a series of questions and answers started. Then an investor questioned the Finance Minister regarding the burden of taxes on buying and selling of shares in the stock market.

The government is belching out all the profits!

The investor told the Finance Minister, the government imposes CGST, IGST, Stamp Duty, STT (Securities Transaction Tax) and LTCG (Long Term Capital Gain) on retail investors. Due to this, the government's earnings are more than that of brokers. He told the Finance Minister, I am investing taking many types of risks but the Government of India is taking away all the profits. I am a working partner with my money, risk and staff and you (government) are a sleeping partner. Finance Minister Sitharaman could not stop laughing at this statement of the investor. Everyone sitting in the hall also laughed.

11% tax is levied on house purchase

The investor's questions did not end here. He also raised questions to the Finance Minister regarding GST and stamp duty applicable on house purchase. He told the Finance Minister, cash payment on house purchase has been abolished. Buying a house in Mumbai is no less than a dream. I pay taxes, I have white money. We pay taxes. Mr. Lodha (Developer) does not accept cash. He said that the balance in my bank account is the amount which is left after paying taxes to the government. And when we buy a house we have to pay stamp duty and GST. If we buy a house in cities like Mumbai, a total of 11 percent of the house price goes from our pocket in the form of tax. The investor asked the Finance Minister, in such a situation, how will you help a person like us who has limited resources. And how will any investor function on whom so much tax burden has been imposed in which the government is the slipping partner and I am the working partner without any income.

Video viral on social media

Let us tell you that this question asked by the broker in BSE to the Finance Minister has gone viral on social media. Advait Arora writes on X I completely agree with the question of this retail investor. This is the real pain of the stock market investor. Rajeev Mehta writes that Finance Minister Sitharaman was shaken by this question of a stock market investor in BSE.

Investors troubled by tax burden

Obviously, this retail investor's question hides the pain of all the investors who are troubled by the tax burden on the profits made in the market.

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