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- Budget 2022; Budget ; amphi demand; Listed debt securities and debt funds should be taxed equally
New Delhi7 hours ago
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Amfi, an organization of mutual fund companies, has given some suggestions to the government for the general budget to be presented next year. This includes a similar tax regime on listed debt securities and debt funds. AMFI also wants to introduce Debt Linked Savings Schemes (DLSS). This will support the bond market.
Demand for uniformity of tax on mutual funds
AMFI has urged the Finance Ministry to bring in uniformity in the tax levied on mutual funds related to listed debt securities and bonds. There is also a demand to balance the holding period for long-term capital gains on direct investments in listed debt securities.
Apart from this, Amfi has also suggested parity in terms of tax levied on withdrawal of investments made in Unit-Linked Investment Plans (ULIPs) of insurance companies. This is necessary to bring parity between Mutual and ULIP.
Major Demands of AMFI
- Same tax regime on listed dead securities and debt funds
- Same tax on capital gains from mutual funds and income from ULIPs
- Debt Linked Savings Scheme (DLSS) launched.
- All mutual funds allowed to launch pension-oriented mutual fund schemes.
- Mutual fund units to be notified as specified long-term assets to be eligible for exemption on LTC.
- Insurance companies allowed to outsource fund management activities from registered AMCs.
- Allowing PSUs to invest funds in mutual funds.
- Rationalization of tax leviable on switching units from one mutual fund scheme to another mutual fund scheme.
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