Equity capital gains in personal income to reach up to 15% in FY24: Jefferies

In the latest Greed & Fear report, Jefferies' India research head Mahesh Nandurkar emphasizes a significant rise in capital gains within personal income tax data. He notes a jump from 4% in FY19 to 11% in FY22 and projects it to reach 12-15% in FY24. Nandurkar attributes this surge in long-term and short-term capital gains to robust market returns and increased retail investor involvement.