The Morning Brief Capital Pains: Budget 2026's Loud Silences
16 snips
Feb 2, 2026 Aashish P. Somaiyaa, CEO of WhiteOak Capital Asset Management, shares market and asset-allocation views. Homi Mistry, Partner at Deloitte India, explains taxation and regulatory shifts. They discuss unchanged capital gains and market tax impacts. They unpack a six-month amnesty for undisclosed foreign assets. They also cover sovereign gold bond rule tweaks and buyback taxation changes.
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New Tax Regime Likely Permanent
- The new tax regime is gaining traction and appears here to stay as more people adopt it.
- Homi Mistry suggests incremental benefits could eventually phase out the old regime over time.
Rupee Gains Can Tax Foreign Losses
- Currency depreciation can make rupee-denominated capital gains taxes punitive for foreign investors.
- Aashish Somaiya notes investors may pay taxes despite having dollar losses, reducing attractiveness of Indian markets.
Capital-Market Taxes Hurt Competitiveness
- Repeated hikes to capital-market taxes and STT make Indian equity less competitive for global investors.
- Aashish Somaiya warns higher capital gains and STT reduce net returns and discourage foreign flows.