AMFI put forths suggestion to government for the Union Budget
Oct 20 2016
News Category: Regulatory Updates
AMFI has drafted a number of proposals to be put forth before the finance ministry for its next Union Budget. The industry body has sought for allowing all investments of three years or more in debt mutual funds to qualify for deduction under the Income Tax Act. It also wants all funds to invest at least 80 % of their corpus in equities to provide an equity-linked savings scheme (ELSS) option, to qualify for tax incentives under the Act.