News From Press Budget 2016: FM extends capital gain tax to merger of different plans in MF

Budget 2016: FM extends capital gain tax to merger of different plans in MF

Source: The Economic Times Mar 1, 2016

To increase retail participation in mutual funds, Finance Minister Arun Jaitley today proposed extending capital gains tax exemption to merger of different plans in an MF scheme.

Currently, capital gains tax is levied on consolidation or merger of multiple plans within a mutual fund (MF) scheme.

However, fund houses are of the view that it is not feasible to levy capital gains tax when an investor moves from dividend option to growth option in a scheme.

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