The Union Budget announced on 10th July, 2014 proposes certain changes in the capital gains taxation of non-equity oriented funds (i.e. debt oriented funds, liquid funds, and fund-of-funds mutual fund schemes). While the finer details are awaited, we would like to highlight that since applicability of these provisions are from the current fiscal year, existing investors may find it more tax efficient to hold their investments for minimum three years from the date of purchase/allotment. This is because the holding period required to qualify for Long Term Capital Gains benefit is proposed to be increased from 12 months to 36 months. For further clarification, please consult your financial/tax advisor.
Posted on: Sat, 12 Jul 2014 11:14:43 +0000
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