Top headlines: MFs may come under new tax ambit; Jio tests for 5G solutions

From MFs, alternative investment funds likely to come under ambit of new tax norms to HUL's Q2 revenue, net profit business return normal level, here are the top headlines this morning

MFs, alternative investment funds may come under ambit of new tax norms

Mutual funds (MFs) and alternative investment funds (AIFs) may come under the ambit of the new tax collected at source (TCS) regime, which came into effect on October 1. This could hit the funds as well as investors. The Finance Act, 2020, has inserted a sub-section (1H) in section 206C, mandating a seller to deduct tax equal to 0.1 per cent of sale proceeds if the value of goods sold exceeds Rs 50 lakh in a financial year. Read More

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