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Budget ushers in relief for gold ETFs, equity FoFs
Business Standard
|July 24, 2024
EQUITY, SELECT HYBRID FUNDS TO FACE HIGHER TAX BURDEN
Gold and silver exchange traded funds (ETFs), equity and hybrid fund of funds (FoFs) and international schemes will again qualify for long-term capital gains (LTCG) tax benefits.
These schemes, which used to enjoy indexation benefits, lost the LTCG advantage in March 2023 after they got bucketed as debt funds.
According to Budget documents, mutual fund (MF) offerings, other than those that are equity or debt-oriented, will now qualify for long-term capital gains taxation of 12.5 per cent if held for over 24 months. At present, gold and silver ETFs and index funds, equityoriented or hybrid fund of funds (FoFs) and international schemes are taxed at the investors' income tax slab rate.
The change is likely to become effective on redemptions post April 1, 2026. According to MF officials, these offerings had unintentionally got classified as debt funds last year and this budget makes a course correction.
Diese Geschichte stammt aus der July 24, 2024-Ausgabe von Business Standard.
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