Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: form 3cd :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: VAT RATES :: VAT Audit :: empanelment
Indirect Tax »
 Finance Minister Favours Cess Over Additional Tax To Compensate States Under GST
  Indirect Tax collections up
 A GST rate that can unlock India’s potential
 Why India fared badly in World Bank’s Doing Business survey
 Income Tax dept to intensify anti-black money operations
 Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 on lump sum lease premium paid for acquisition of long term lease-regarding
 CBDT seeks monthly data of disposed I-T appeals
 Further indirect tax may be levied in 2017
 India has to make its own tax law
 Centre warns against criticism of GST network
 Indirect tax collection jumps 26% in April-September, direct tax 9%

SEBI to pitch for tax relief on mutual fund pension products
May, 15th 2014

The Securities and Exchange Board of India will petition the new Government for more tax sops for mutual funds and the equity market to incentivise and channel savings into long-term investment products.

IT Act Amendment
“The SEBI board has approved these measures and sent them to the Finance Ministry. We will push for implementation of these measures with the new government,” a senior SEBI official told Business Line. The measures require amendments to the Income Tax Act, which is why Government support is needed.

One of the proposals is for providing tax benefits on pension products by mutual funds. “A long-term product, such as the Mutual Fund Linked Retirement Plan, with an additional tax incentive of ?50,000 under Section 80C of the Income Tax Act, may be introduced,” says the proposal. If this happens, pension products of mutual funds will be at par with those of insurance companies.

Though there is no restriction on mutual funds launching pension products, the lack of tax benefits at the time of investing (except in two schemes) makes them unattractive. Only two pension schemes by mutual funds — UTI Retirement Benefit Pension Fund (launched in 1994) and Templeton India Pension Plan (formerly known as Kothari Pioneer Pension Plan; launched in 1997) — can offer tax benefits on investment. During the past 17 years, mutual funds have not launched any pension plan.

Alternative option
SEBI has suggested that if no separate limit can be provided, the limit of Section 80C of the IT Act, 1961 could be enhanced to ?2 lakh from ?1 lakh. This will make mutual fund products attractive. SEBI feels the Rajiv Gandhi Equity Savings Scheme may also be brought under the enhanced limit.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions