Investment taxation is a 4D matrix, simplifying it is crucial: Feroze Azeez shares his Budget wishlist
Q: The Union Budget is due on July 23. What are the broad expectations of the mutual fund industry from this budget?
Feroze Azeez:
This is the main budget for the third term of the Modi government. Firstly, the exemption limit for long-term capital gains, currently set at one lakh rupees per person since 2018, should be revisited. Given market valuations and inflation, it should be increased to two lakhs.
Secondly, debt-linked saving schemes should be introduced. Currently, only equity-linked saving schemes get an exemption under Section 80C, while other instruments like post office schemes, EPF, and PPF are included. Mutual funds are not just equity platforms; they also encompass debt platforms. Including debt-linked saving schemes in the 80C one-and-a-half lakh limit would be beneficial.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitIndian School of BusinessISB Chief Technology OfficerVisitIIM LucknowChief Executive Officer ProgrammeVisitThirdly, specified long-term assets should include mutual fund infrastructure investments to get an exemption under Section 54EC, similar to real estate investments. This would promote investments in the mutual fund industry, which is the most transparent sector in the collective investment scheme arena.
Watch the full interview here. (PLS EMBED)
https://economictimes.indiatimes.com/markets/etmarkets-live/budget-2024:mutual-fund-industry-expectations/streamsrecorded/streamid-npnfindg6k,e
