Whalesbook
Toh bhai, scene aisa hai ki India ka Nifty 20.32 P/E par trade kar raha hai, jo ki okay hai. Lekin jab NRI log yahan equity mein paisa lagane aate hain, toh unko tax ke chakkar mein kaafi mushkil hoti hai.
Sabse badi problem pata hai kya hai? Yeh jo NRE aur FCNR account ka interest hai woh toh tax-free hai, badhiya baat hai. Par NRO account se jo income aati hai na, us par 30% tax lagta hai, plus surcharges aur cess. Aur capital gains par bhi scene thoda tight hai. Short-term gains par 20% aur long-term par 12.5% tax hai, ₹1.25 lakh tak exemption ke baad. Par agar aap resident Indian hote, toh ₹2.5 lakh ki basic exemption limit use kar sakte the capital gains par, jisse pura ₹1.25 lakh ka exemption mil jaata. NRI logon ke liye yeh limit nahi hai, matlab thoda sa bhi gain hua toh seedha tax dena padega. Yeh choti choti cheezein NRI logon ko pareshan kar rahi hain.
Ab comparison dekho, UAE mein toh personal income aur capital gains par koi tax hi nahi hai! Aur Singapore mein bhi foreign-sourced income par tax nahi lagta. Plus, wahan DTAA (Double Taxation Avoidance Agreement) ke through, NRIs ko India ke mutual funds par tax lagbhag zero ho jata hai, kyunki mutual funds ko direct equity se alag treat karte hain treaties mein. Matlab, paisa jahan zyada fayda wahan ja raha hai.
Aur issi beech, global risks ke karan, Foreign Portfolio Investors (FPIs) bhi Indian stocks se nikal rahe hain. December 2025 mein $18.8 billion, January 2026 mein $3.95 billion, aur pehle 10 mahine mein lagbhag $16.7 billion ka outflow ho chuka hai. Indian Rupee bhi 4.5% gir gaya hai is saal. Sabhi taraf se thoda pressure hai.
Budget 2026 mein government ne kuch reforms kiye hain, jaise overseas investors ke liye limit badha kar 10% (individuals) aur 24% (aggregate) kar di hai. Lekin yeh capital gains ya basic exemption wali badi problems ko solve nahi karta. Jab tak tax rules clear aur attractive nahi honge, India ke liye foreign capital attract karna mushkil rahega. Aage policies mein changes hone chahiye.