Finance Minister Arun Jaitley's clarification in the Budget for 2016-17 that mutual funds' income from pass through certificates or PTCs will not be taxed has ignited hope of a revival in demand for such securities after a dip in volumes in the past couple of years.
Fund managers are, however, awaiting the fine print in the Finance Bill, particularly to confirm that the tax on income from PTCs will have to be paid for by investors and not by mutual fund trusts. The finance minister als ..
