CA. Ramesh Chhikara

Partner- P R A G Associates, Chartered Accountant

[CA. Ramesh Chhikara @CARameshKumar]

I’m #700 in The Leap!
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Since 20th July (10 days) My current profit: +25.10% (+$25,098.70) — better than 99% of participants.

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[CA. Ramesh Chhikara @CARameshKumar]

@PMOIndia @narendramodi @nsitharamanoffc @nsitharaman
Ideal option to increase the forex reserve is to demolish Long term capital gain tax on equities and also consider reducing tax on short term gains also.

[CA. Ramesh Chhikara @CARameshKumar]

1
₹12.31 Lakh Crore FII Outflow Since LTCG Tax Returned in 2018

Did India accidentally push away long-term foreign capital?

Since 2018 📉Persistent FII selling 📉Weakening Rupee 📉Forex pressure #pmmodiappeal #StockMarket #FII #LTCG #ForexReserves #Nifty #Sensex
A thread 🧵👇

[CA. Ramesh Chhikara @CARameshKumar]

#pmmodiappeal #StockMarket #FII #LTCG #Rupee #ForexReserves #Nifty #Sensex #Investing #StopGoldBuy #Forex

[CA. Ramesh Chhikara @CARameshKumar]

10/
Why?

Because removing LTCG tax would:

✔ Improve post-tax returns ✔ Increase long-duration capital inflows ✔ Support Rupee stability ✔ Improve forex reserves indirectly ✔ Deepen market liquidity ✔ Lower cost of capital for Indian companies

[CA. Ramesh Chhikara @CARameshKumar]

11/
India does not lack growth potential. India lacks sufficiently attractive post-tax, currency-adjusted returns for global capital.
The world’s fastest-growing major economy should ideally also become one of the most investor-friendly capital markets globally.

[CA. Ramesh Chhikara @CARameshKumar]

9/
One major structural reform that could immediately improve global investor sentiment:

✅ Remove LTCG tax on listed equity investments.

Especially for: • Long-term investments • Pension funds • Sovereign funds • Global institutions

[CA. Ramesh Chhikara @CARameshKumar]

8/
A continuously weakening Rupee itself becomes a negative feedback loop:

Rupee falls → FII returns shrink → FIIs sell more → Dollar outflow rises → Rupee weakens further.

[CA. Ramesh Chhikara @CARameshKumar]

7/
Ironically, while India seeks more forex inflows, the system simultaneously discourages long-term foreign capital through higher taxation.

At the same time: • Gold imports rise • Foreign travel spending rises • Dollar demand rises
All this pressures forex reserves further.

[CA. Ramesh Chhikara @CARameshKumar]

6/
This creates a double hit for FIIs:

❌ Currency depreciation risk ❌ Capital gains taxation
Together, they significantly reduce India’s post-tax risk-adjusted returns versus competing markets.

[CA. Ramesh Chhikara @CARameshKumar]

4/
Total cumulative FII net outflow since 2018:

➡️ Approx. ₹12.31 lakh crore

And 2026 alone has already seen massive selling despite only ~4.5 months passing.

[CA. Ramesh Chhikara @CARameshKumar]

5/
One of the biggest hidden reasons hurting FII confidence:

📉 Rupee depreciation

Even if Indian markets rise in INR terms, foreign investors care about RETURNS IN USD.

[CA. Ramesh Chhikara @CARameshKumar]

3/
FII Net Buy/(Sell) in Indian Equities (₹ Crore):

2018: -73,733 2019: +39,880 2020: +64,379 2021: -92,730 2022: -2,78,430 2023: -16,511 2024: -3,02,435 2025: -3,06,419 2026 (just 4.5 months): -2,65,408

[CA. Ramesh Chhikara @CARameshKumar]

1
₹12.31 Lakh Crore FII Outflow Since LTCG Tax Returned in 2018

Did India accidentally push away long-term foreign capital?

Since 2018 📉Persistent FII selling 📉Weakening Rupee 📉Forex pressure #pmmodiappeal #StockMarket #FII #LTCG #ForexReserves #Nifty #Sensex
A thread 🧵👇

[CA. Ramesh Chhikara @CARameshKumar]

2/
In 2018, India reintroduced Long-Term Capital Gains (LTCG) tax on equities after 14 years. Since then, one trend has become hard to ignore:
📉 Persistent FII outflows 📉 Weakening Rupee 📉 Pressure on Forex Reserves

[CA Sansaar @casansaar]

Justice Delayed is Justice Denied. @IncomeTaxIndia
We urge @FinMinIndia to announce a Tax Audit Due Date extension in time.
Avoid last-minute chaos, ensure fairness to taxpayers & professionals. Retweet Plz
#Extend_TAR_DueDate #TaxAudit #Extend_Due_Date_Immediately @casansaar

[CA. Ramesh Chhikara @CARameshKumar]

ACKOINDIA_CMP_3418. Trading Near trendline and ready for breakout.I Am not SEBI Registered. Not a Buy/Sell Recommendation. Please consult your financial advisor before investing. The information given is for education purpose only.

[CA. Ramesh Chhikara @CARameshKumar]

Network18_CMP_58.88_Volume spike, approching towards trendline breakout.I Am not SEBI Registered. Not a Buy/Sell Recommendation. Please consult your financial advisor before investing. The information given is for education purpoe only.

[CA. Ramesh Chhikara @CARameshKumar]

on behalf 4400 flat owners of DLF Capital Greens Ph 1 & 2, we want @JLLIndia , @JLL and @dlfrealty to reduce the maintenance @2.22 psf for PH 1&2 which has already been done for ph 3 by @CushWake with better facilities in ph 3.

[CA. Ramesh Chhikara @CARameshKumar]

@AkashTrader good going bro..

[CA. Ramesh Chhikara @CARameshKumar]

@AppleSupport please ask the service center to repair my phone they are not supporting

[CA. Ramesh Chhikara @CARameshKumar]

@AppleSupport I got replaced battery of i-phone on 6.10.2023 from unicorn apple authorized SC at pacific mall, Subhash Nagar, Delhi, on next morning I found my phone switched off and not working till date.