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Finance Bill 2023: Govt to scrap LTCG tax benefits on debt mutual funds

Lok Sabha passes Finance Bill with 64 amendments

Finance Minister Nirmala Sitharaman
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FM Nirmala Sitharaman tabled the Finance Bill, 2023, which was passed without a discussion amid sloganeering by Opposition members demanding a JPC probe into allegations against Adani group | PTI

Shrimi Choudhary New Delhi
The Finance Bill, 2023, passed on Friday in the Lok Sabha without discussion, is set to tax investors heavily from April 1. The Bill, which gives effect to the tax proposals for FY24, was cleared amid the Opposition demanding a probe into the allegations against the Adani group.

A total of 64 amendments were proposed. These included the one that seeks withdrawing long-term capital gains tax benefits on certain categories of debt mutual funds and increasing securities transaction tax (STT) on selling options and futures contracts.

“The Finance Bill had brought in 10 main provisions helpful for the middle class and community

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First Published: Mar 24 2023 | 8:56 PM IST

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