Capitalmind CEO Shenoy slams new SGB taxation rule, says 'Holy moly, it's very negative'

Capitalmind AMC's CEO Deepak Shenoy slammed the government's announcement regarding taxation of Sovereign Gold Bonds (SGBs). "Holy moly! If you buy SGBs in the market (not from primary issuance) you'll pay full tax on capital gains when the bond is redeemed! This is from April 1," Shenoy said. "Very negative for SGBs if you've bought in the market," he added.