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MF body suggests tax sops for debt schemes

Experts say there is need for tax parity between ELSS and other 80C products such as insurance NPS

Ashley Coutinho  |  Mumbai 

The mutual fund sector wants the government to allow all investments of three years or more in debt schemes to qualify for deduction under section 80C. It also wants all equity schemes that invest 80 per cent of their corpus in equities to provide an ELSS option that will make them qualify for tax sops under the section. These suggestions are part of the Budget proposals drawn up by the sector’s lobbying arm Association of Mutual Funds in India, or Amfi, and will be sent later this month to the finance ministry.  At present, only investments in equity linked savings schemes, ...

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MF body suggests tax sops for debt schemes

Experts say there is need for tax parity between ELSS and other 80C products such as insurance NPS

Experts say there is need for tax parity between ELSS and other 80C products such as insurance NPS The mutual fund sector wants the government to allow all investments of three years or more in debt schemes to qualify for deduction under section 80C. It also wants all equity schemes that invest 80 per cent of their corpus in equities to provide an ELSS option that will make them qualify for tax sops under the section. These suggestions are part of the Budget proposals drawn up by the sector’s lobbying arm Association of Mutual Funds in India, or Amfi, and will be sent later this month to the finance ministry.  At present, only investments in equity linked savings schemes, ... image
Business Standard
177 22

MF body suggests tax sops for debt schemes

Experts say there is need for tax parity between ELSS and other 80C products such as insurance NPS

The mutual fund sector wants the government to allow all investments of three years or more in debt schemes to qualify for deduction under section 80C. It also wants all equity schemes that invest 80 per cent of their corpus in equities to provide an ELSS option that will make them qualify for tax sops under the section. These suggestions are part of the Budget proposals drawn up by the sector’s lobbying arm Association of Mutual Funds in India, or Amfi, and will be sent later this month to the finance ministry.  At present, only investments in equity linked savings schemes, ...

image
Business Standard
177 22