Govt says examining concerns over proposed tax on debt mutual funds

NEW DELHI (Reuters) - The government is looking into industry concerns over a plan to tax earnings from investments in debt mutual funds, Revenue Secretary Shaktikanta Das said on Tuesday.

Last week, Finance Minister Arun Jaitley proposed in his maiden budget a tax on gains from investments in non-equity mutual fund schemes. He also increased the long-term capital gains tax rate on debt-linked mutual funds to 20 percent from 10 percent.

The mutual funds industry is protesting the proposed tax changes.

(Reporting by Manoj Kumar)