Ahead of the interim budget, India Inc has urged the Finance and Corporate Affairs Minister Nirmala Sitharaman to rationalise and simplify the capital gains tax regime in the income tax law.

At present, there is no consistency in tax rates or holding period for different types of instruments falling with same asset class, the Confederation of Indian Industry (CII) said in its key proposals for interim budget.

Even the indexation benefit differs in different situations, it added. Apex chamber has also proposed a simplified framework.