Proposals in Finance Bill on debt mutual funds, STT likely to adversely impact market: Experts orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.
Lok Sabha on Friday passed the Finance Bill 2023 with 64 official amendments, including the one that seeks withdrawal of long-term tax benefits on certain categories of debt mutual funds and another for setting up the GST Appellate Tribunal. The Bill gives effect to tax proposals for the fiscal year starting April 1.
According to Union Budget announcement, come 1 April, the market-linked debentures, which are typically issued by small NBFCs rated A or below, will attract short-term capital gains tax, instead of a flat 10% under long-term capital gains.