Industry bodies like CII, FICCI, and Assocham have advocated for simplifying and rationalising India’s capital gains tax regime in a pre-budget consultation with revenue secretary Sanjay Malhotra. Suggestions include broadening asset classes to two-three categories with adjusted holding periods, indexation benefits, and tax rates. CII proposed a 10% long-term capital gains tax for financial assets, 20% (with indexation) for others like immovable property, and 15% for short-term gains on financial assets. Simplification of TDS compliance was also urged, with proposals for consolidated TDS rates and an expanded Dispute Resolution Scheme.