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AMFI seeks tax parity for debt funds, fund of funds
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Mutual Funds in India (AMFI), in its Union Budget proposals, has sought that capital gains on redemption of units of debt-oriented mutual funds held for more than three years should be taxed at the rate of 10% without indexation, as applicable in the case of debentures.
The mutual fund industry body also has proposed the introduction of a debt-linked savings scheme (DLSS) providing tax benefits similar to the current ELSS scheme.
AMFI has proposed that the definition of equity-oriented funds be revised and include fund of funds (FoFs) that invest at least 90% of their corpus in units of equity-oriented funds. This move will ensure parity in tax treatment for FoFs investing in equities.
About this in other media
Budget 2024: Mutual fund industry urges tax parity for debt MFs held for 3 or more years economictimes.indiatimes.com /4 months ago
Budget 2024: Rakesh Mittal seeks simplified tax regimes, support for MSMEs livemint.com /5 months ago
Chandrababu Naidu again seeks financial package for Andhra Pradesh ahead of Budget economictimes.indiatimes.com /5 months ago
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