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Market participants have urged the government to ease capital market taxation, including a higher exemption limit on long-term capital gains, ahead of the Union Budget for 2026-27.They also suggested that the government avoid further increases in transaction taxes.The Union Budget will be presented by Finance Minister Nirmala Sitharaman on February 1.

Market stakeholders also demanded enhancement of the tax-free exemption limit on long-term capital gains (LTCG) from equity investments to provide greater relief to retail and long-term investors.
In its budget wishlist, JM Financial Services recommended that the government should raise the tax-free exemption limit for equity LTCG from Rs 1.25 lakh to Rs 2 lak .The firm also sought to standardise the definition of "long term" to 12 months across all asset classes, including equity, debt, gold and real estate, to reduce complexity and improve tax clarity.Additionally, it called for allowing capital losses to be set off against income under other heads.

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Market participants have also cautioned against any further increase in transaction-related taxes.