The recent decision by the Indian Government to discard the indexation benefit in Long Term Capital Gains (LTCG) tax has negatively impacted millions of investors and taxpayers across the country. Indexation, an adjustment made by taking inflation into account, provided a fair and equitable way of calculating an individual's capital gain, thereby reducing the effective tax burden.

In 2018, the Government reintroduced the LTCG tax on equity investments, a move that was met with widespread criticism. The recent removal of indexation benefit adds to the burden. Due to this change, an individual is now taxed on the nominal amount of capital gain, which includes the inflation component, leading to higher taxes irrespective of the actual 'real' gains. The common people, often the most vulnerable segment in our society, are the ones most affected.

In the absence of indexation, investors are in a double bind: they face potential losses in real terms due to inflation and are also expected to pay a higher tax on the so-called gains that are not actual gains but merely a reflection of inflation.

We call upon the Government of India to reconsider and roll back this measure. It is crucial to ensure that the tax system remains fair and logical. We believe that the reintroduction of indexation in LTCG would serve as a relief to millions of taxpayers and investors. In addition it will help the Real Estate industry which is one of the pillars and main contributors to the economy.

To support the financial welfare of Indian citizens, we must draw attention to this issue. Sign this petition to encourage the Government of India to reintroduce indexation benefit in Long Term Capital Gain Tax.