Union Finance Minister Nirmala Sitharaman has been left speechless over the high taxes levied on Indian stock market brokers and real estate transactions.
Later, the video went viral on social media.
Nirmala Sitharaman’s response to broker’s question
During an event at BSE, a broker raised concerns about the multiple taxes and charges on transactions in the stock market, stating, “Today, the Government of India is earning more than the broker. I am investing everything, taking a whole lot of risk, and the government is taking away my profit. You are my sleeping partner. So, what do you have to say about this?”
The broker also raised issues related to taxes levied during the purchase of a house.
In response, the Finance Minister Nirmala Sitharaman stated, “A sleeping partner cannot answer sitting here.”
Taxes in the Indian stock market
In the Indian stock market, multiple statutory charges are levied by the government and exchanges.
These charges include:
- STT (Securities Transaction Tax)
- Exchange transaction charge
- GST (Goods and Services Tax)
- SEBI charges
- Stamp duty
- DP (Depository Participant) charges
Although the issue was raised, the Union Finance Minister remained silent on the question related to taxes in the Indian stock market.
