AMFI presents budget wish list before the Ministry of Finance
Dec 18 2017
News Category: Industry Update
According to media reports, the Union Minister of Finance and Corporate Affairs met representatives from banks and financial institutions in the pre-budget consultation meeting held in Delhi. The industry body has requested the Ministry of Finance to introduce mutual fund linked retirement plans (MFLRP) under Section 80 CCD. AMFI believes that long term product like mutual fund retirement plans with tax incentive can play a significant role in channelizing household savings to capital markets. Secondly, AMFI has asked the government to consider extending the tax benefits provided under 80CCD of the Income Tax Act (for eg. National Pension Scheme) to mutual fund retirement plans.