Top India Bourse Says Traders Urge Review of Derivative Tax Hike

Several market participants have made representation to the government to review its decision to increase a tax on trading of equity derivatives, according to the National Stock Exchange of India Ltd.

This comes days after India announced that it will increase tax on transaction of equity futures and options to curb speculative trading by retail investors. The levy on equity futures trades will be raised to 0.05% from 0.02%, while the tax on options premiums and the exercise of options would go up by 50% and 20%, respectively.