Aditya Bhattachrya on Budget 2026: Stability, Predictability and Investor Confidence to Take Centre Stage
Aditya Bhattacharya has shared his perspective on the key tax and market-related expectations from the Union Budget 2026, highlighting a strong likelihood of continuity over disruptive reforms.
According to Aditya Budget 2026 is expected to prioritise stability rather than sweeping structural changes. On the taxation of capital gains, he noted that market participants will closely watch developments around Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG). He indicated that the government may consider rationalisation measures, including possible harmonisation of holding periods or marginal relief, with a view to encouraging long-term investments and deepening retail participation in capital markets.
Commenting on Securities Transaction Tax (STT), he observed that any upward revision appears unlikely, given its direct and immediate impact on market liquidity and trading volumes. “An increase in STT could adversely affect trading activity, which makes such a move improbable in the current environment,” he said.
On dividend taxation, Aditya stated that the existing classical system where dividends are taxed in the hands of shareholders is expected to continue. However, he noted that limited fine-tuning cannot be ruled out, particularly to ease compliance burdens or provide targeted relief to small investors.
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