New Delhi, Jan. 30 -- Zerodha co-founder Nithin Kamath has flagged concerns over the Securities Transaction Tax (STT), saying that as a market participant, he had always hoped that the Budget would reduce the levy, but it has instead continued to rise.

In an X (formerly Twitter) post, he noted that STT was introduced when long-term capital gains (LTCG) tax was made zero, but with LTCG now back, the overall tax burden on investors has increased.

STT was introduced in India on 1 October 2004 under the Finance Act, 2004. It was implemented to replace LTCG, simplify tax collections, and reduce tax evasion on the sale and purchase of equities and derivatives. However, LTCG on listed equities was reintroduced in India in the Union Budget 2018...