Sumit Saurabh

IITian | Engineering leader | Building intelligent systems that shape tomorrow | Author of Helborn: The Blood Mark

[Akshat Shrivastava @Akshat_World]

In India we pay:-

1) One of the highest securities transaction taxes
2) One of the highest FnO taxes
3) High remittance fee to move money abroad (eg. 20% TCS)
4) High capital gains taxes
5) Pay for rupee depreciation (INR has become one of the worst performing currencies in the world recently)
6) Our stock market has given close to 0% returns in the last 2 years

All these facts can be checked in 2 mins. But, some bootlicker will raise his/her head and call people tell facts a conspiracy theorist.

A nation never dies. What dies is people's ability to think.

Rather than asking questions to leader, they question people raising questions, lol.

[Vijay Kedia @VijayKedia1]

Gen Z has changed the language of protest.

Memes replace slogans. Ratios replace rallies. Virality replaces pamphlets. At times, outrage replaces civility.

Governments, institutions, and society cannot respond with yesterday's playbook. The nature of public discourse has changed. It calls for more listening, genuine dialogue, greater transparency, and stronger accountability, rather than confrontation.

If institutions continue responding with yesterday's methods, the gap between citizens and the state will only widen. 🇮🇳

[Vijay Kedia @VijayKedia1]

Respected @nsitharaman ji and @FinMinIndia,

Suggestion 3 of 3 for strengthening India's capital markets:

Securities Transaction Tax (STT) should be abolished.

STT was introduced as a simplified transaction tax to facilitate easier collection of taxes from capital market transactions. However, over time, it has effectively become an additional layer of taxation alongside other market-related levies.

A simplification measure should not evolve into permanent duplication.

In addition to brokerage, investors already bear multiple statutory and regulatory charges including exchange transaction charges, GST on transaction-related charges, SEBI turnover fees, stamp duty and STT.

Unlike income tax, STT is payable irrespective of whether an investor makes a profit or a loss. The investor pays the tax simply for participating in the market.

Capital markets play a vital role in channeling household savings into productive enterprises, supporting entrepreneurship, generating employment and strengthening India's economic growth. Transaction costs and multiple layers of taxation discourage participation, particularly among long-term retail investors.

India's equity markets have matured significantly since the introduction of STT. The time has come to review its original purpose and reconsider its continued relevance.

Abolishing STT would simplify market taxation, improve capital market efficiency and encourage greater participation in India's growth story.

Respectfully submitted.

[Vijay Kedia @VijayKedia1]

Respected @nsitharaman ji and @FinMinIndia ,

Suggestion 1 of 3 for strengthening India's capital markets:
Long-term capital gains tax on listed equities should be abolished.

A long-term shareholder is not a speculator but a provider of patient risk capital. By investing in and holding businesses, investors help companies expand, create jobs, innovate and contribute to India's economic growth.

India requires enormous amounts of long-term capital to build world class enterprises, infrastructure and global champions. Tax policy should encourage households to move savings from passive assets, including imported stores of value such as gold, into productive businesses that create jobs, generate tax revenues and build national wealth.

The appreciation in a company's value is not created in isolation. During its growth journey, the government already collects corporate tax, GST, income tax from employees, customs duties, stamp duties and numerous other levies. Long-term capital gains are often the final outcome of economic activity that has already generated substantial tax revenues.

Most importantly, tax policy should clearly distinguish between investment and speculation. A long term shareholder is a partner in wealth creation, not merely a participant in market transactions. Tax policy should reward long-term ownership of productive businesses and distinguish it from short-term speculation.

India needs more patient capital, more entrepreneurship and more long term investing. Abolishing long-term capital gains tax on listed equities would be a powerful step in that direction.

Respectfully submitted.

[Sumit Saurabh @_sumitsaurabh]

@AkasaAir @AkasaAir Fed up with repeated “we’ll reach out soon” msg. This is an urgent medical travel case - ppl are stuck at the airport for hrs with no clear update or arrangement. We need a specific ETA or confirmed alternate flight, not generic assurances. @DGCAIndia please intervene.

[Sumit Saurabh @_sumitsaurabh]

@AkasaAir Flight QP-1406 (Darbhanga–Delhi, 5 Oct) delayed ovr 3 hrs then abruptly cancelled. Passengers kept waiting hlplessly till 2 PM - no proper update or support. @AkasaAir cstmr care gives no help. This is harassment! @DGCAIndia @MoCA_GoI @JM_Scindia pls take action.

[Sumit Saurabh @_sumitsaurabh]

@AkasaAir @AkasaAir this is extremely urgent. The passengers have an AIIMS Delhi medical appointment tomorrow, and it’s crucial to reach today itself. Please arrange alternate travel today via any available flight from Darbhanga, Patna, or nearby airports, even if on a different airline.

[Sumit Saurabh @_sumitsaurabh]

As per @DGCAIndia CAR rules, passengers must get meals, refund or alternate flight after 3+ hr delay & cancellation notice. None of this was done. Passengers deserve accountability, not silence. Strict action needed against @AkasaAir. #PassengerRights #FlightCancelled #AkasaAir

[Sumit Saurabh @_sumitsaurabh]

Just came across this news - “Biggest scam: Angel investor after insurance firm denies claim to a family”.
As a cstmr with ⁦⁦@Niva_Bupa⁩ health insurance for 5+ yrs, this is dply concerning. Transparency & trust r d foundation of insurance. Hoping for a clear response.

[CA Anil Singhvi Zee Business @AnilSinghvi_]

घर में नहीं होनी चाहिए China में बनी कोई भी चीज...❌️🇨🇳

अब से खरीदें वो ही जिस पर लिखा हो "Made in India" Please...✅️🇮🇳

देखिए कौन-कौन जुड़ा है हमारी इस मुहिम से...👇

क्या आप भी देंगे हमारा साथ...❓️❓️

#BoycottChina #China #BoycottTurkey #Azerbaijan #BoycottAzerbaijan #India #IndianArmy #IndiaPakistanWar #BoycottChinaProducts @adgpi @narendramodi

[Rajeev Chandrasekhar 🇮🇳 @RajeevRC_X]

No thank you. 🤮

#BoycottTurkey #SayNoToTurkey

[ANI @ANI]

Koppal, Karnataka: Two women, including a foreign national, were allegedly raped near the Hampi heritage site in Karnataka and one male tourist who was with them was found dead. The body of Bibas, a resident of Odisha was found near power house of canal, nearly two Kms away from the incident. The group which attacked them allegedly pushed him into the Tungabhadra River canal yesterday. Gangavathi Rural police have registered a case of rape, robbery, assault and attempt to murder against the accused: Karnataka Police

[Sumit Saurabh @_sumitsaurabh]

Shocked by @flyspicejet's sudden destination change! No prior notice, just chaos. This can't be the norm! 🚫 Urgent action needed, @JM_Scindia @AjaySingh_SG @DGCAIndia. #SpicejetService #DGCA #BoycottSpicejet

[Sumit Saurabh @_sumitsaurabh]

@gahannrao I too got the same. @HDFC_Bank @HDFCBank_Cares

[Sumit Saurabh @_sumitsaurabh]

Encroachment of NHAI land and illegal construction at the junction of NH 57 and NH 106 is leading to heavy traffic jams, accidents, and inconvenience to locals. Please take appropriate action. @NHAI_Official @nitin_gadkari

[Sumit Saurabh @_sumitsaurabh]

Encroachment of NHAI land and illegal construction at the junction of NH 57 and NH 106 is leading to heavy traffic jams, accidents, and inconvenience to locals. Please take appropriate action. @NHAI_Official @nitin_gadkari

[Narendra Modi @narendramodi]

Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti.

[sanjiv @sanjiv_bhasin]

#bigbull RIP 🙏

[Bounce @bounceshare]

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