AMFI requests government to introduce DLSS
Jan 24 2018
News Category: Industry Update
According to media reports, the Association of Mutual Funds in India (AMFI) has requested the Union finance minister to introduce Debt Linked Savings Scheme (DLSS) with a view to channelize long term savings of retail investors into corporate bond market through mutual funds. In line with ELSS, the mutual fund industry body wants DLSS investors to avail benefits of tax deduction under Section 80C on investments of up to Rs. 1.50 lakh. However, AMFI has recommended that DLSS should have lock-in of 5 years. In the event of implementation, AMFI expects debt-oriented mutual funds to be at par with tax saving bank fixed deposits, where deduction is available under Section 80C.