News From Press Amfi submits 10-point budget wish list

Amfi submits 10-point budget wish list

ULIPs enjoy more tax benefits as compared to mutual funds in various aspects like no capital gains on switching, no STT on the withdrawal proceeds from ULIPs, no income tax on the proceeds from ULIPs of Insurance companies (including early surrender / partial withdrawals), etc.

Mint Dec 26, 2020

AMFI in its Budget Proposals for FY2021-22 has made various submissions under three key areas: 1) Need to bring parity in tax treatment for investments in different financial sectors, 2) Suggestions to mitigate hardship to retail taxpayers; and 3) Encouraging deepening of capital market through Mutual Funds. AMFI reiterated its long-standing demand to bring parity in tax treatment of mutual funds and ULIPs, both of which are investment products and invest in securities.

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