‘Do-do tax bhi pay karun, ab zinda mein kaise rahu’: Vijay Kedia asks Nirmala Sitharaman 

Ace investor Vijay Kedia shared his latest creation on Sunday – a song addressing the high taxes in the country, directed at Finance Minister Nirmala Sitharaman, asking how one is expected to live with such burdens. Kedia, known for his unique approach, has previously created similar songs. 

The new track, titled “FM ji FM ji, itna tax main kaise bharun”, reflects his thoughts on the issue. Interestingly, Kedia had earlier shared the same song after the Finance Minister’s announcement to increase capital gains tax. For this song, Kedia has reimagined the lyrics of AR Rahman’s popular song “Tu Hi Re” from the movie Bombay to express his views on the tax system. 

“FM ji, FM ji, itne tax mein kaise bharun, STT, STG, LTCG, badha, kya kahun. Upar se, dividend pe, do-do tax bhi pay mein karun. Madam ji, madam ji, ab zinda mein kaise rahun,” Kedia asks the FM in his song. 

He further added, “Mushkil hai ye business, kitne risk uthata hoon, diabetes aur BP, badle mein pata hoon. Ye easy nahi hai ji, itni anxiety kaise sahun. Madam ji, madam ji, ab zinda mein kaise rahun.” 

In her Union Budget 2024 speech, Finance Minister Nirmala Sitharaman had announced that short-term capital gains on specific financial assets will be subject to a tax rate of 20 percent, a 5 percent increase from the previous rate of 15 percent. 

The long-term gains tax rate for all financial and non-financial assets in the financial year 2024-25 will be set at 12.5 percent. This tax rate adjustment is part of the government's initiative to support individuals belonging to middle and lower-income brackets by raising the exemption cap for capital gains. 

She also announced a hike in the Securities Transaction Tax (STT) on futures and options (F&O) securities by 0.02 percent and 0.1 percent, respectively.