JM Financial Services' Ashu Madan Reacts To Higher Taxes On Stocks & Impact on Investors

Business Today TV's Sakshi Batra at the Budget Round Table 2024 speaks with Ashu Madan, Co-Head of Business Affiliate Group and MD of JM Financial Services, about the impact of higher taxes on the stock market, particularly LTCG and STCG on stocks, and their effect on investors. Ashu Madan highlights that terms like LTCG and higher taxes have become buzzwords post-budget. He notes that while the salaried class may not favour the budget due to its stance on higher taxes on stocks, it hasn't negatively impacted companies listed in the stock market. Ashu Madan emphasizes that despite initial concerns, investors will soon realize that the budget isn't detrimental to the market. Addressing the question of whether the 12.5% tax on stocks will affect investments, he asserts it will not, pointing to the rising number of D-Mat accounts and investors. He concludes by saying, "We are in a very interesting time as far as the market is concerned."