WebMar 24, 2024 · Late on Thursday evening, the industry came to know about the changes the government proposed, wherein tax benefits for over three year investments in debt mutual fund investments will not be available and all such bets will attract short-term capital gains tax. Advertisement The Bill was passed by the Lok Sabha on Friday. Web17 hours ago · The International Monetary Fund has warned that 15% of low-income countries are already in debt distress; another 45% are vulnerable; and a quarter of emerging economies are at high-risk.
Finance Bill 2024 Amendment: Debt funds proposed to be …
WebNov 1, 2014 · Another tax-friendly feature of debt funds is that there is no tax deduction at source (TDS) on the gains. In fixed deposits, if your interest income exceeds Rs 10,000 a year, the bank will deduct 10.3% from this income. If you are not liable to pay tax, you will have to submit either Form 15H or 15G to escape TDS. WebMar 24, 2024 · If a debt fund is held for more than 3 years, the investor pays long-term capital gains tax at 20 per cent with indexation benefit while interest from the fixed … landscaping services in victorville
India removes long-term tax benefits for debt mutual funds
WebSep 19, 2024 · STCG on debt mutual funds is charged as per the assessee’s tax slab. For instance, if your current income excluding the STCG is already more than ₹10,00,000 and you are in the highest tax bracket of 30%, your short-term capital gains tax rate will be 30% (plus cess and surcharge as applicable). Taxation on Hybrid WebMar 30, 2024 · Taxation of Capital Gains of Debt Funds Debt funds are those mutual funds whose portfolio’s debt exposure is in excess of 65% and equity exposure is not more than 35%. Starting 1st April 2024, the debt funds will no longer receive indexation benefit and deemed to be short-term capital gain. WebApr 13, 2024 · However, any investment made in debt mutual fund units (where equity investment is up to 35%) on or after April 1, 2024, will not benefit from indexation on long-term capital gains according to the amendments to Finance Bill 2024. It means that until March 31, 2024, the benefit from the current LTCG taxation regime will be applicable on … hemisphere vs110