News From Press Budget 2024: PMS firms rethink strategy after increase in STCG tax

Budget 2024: PMS firms rethink strategy after increase in STCG tax

Source: Business Standard Jul 26, 2024

The 33 per cent increase in short-term capital gains (STCG) tax, as announced in the Union Budget 2024-25, is likely to make it more challenging for portfolio management services (PMS) providers to compete with mutual funds (MFs) and alternative investment funds (AIFs).

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