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The move will be 'detrimental' to the broader agenda of corporate bond market development, reminding that mutual funds were big subscribers to papers issued by companies like Nabard
Debt mutual funds are stripped of the long-term tax benefit if they invest less than 35 per cent of their assets in equities. Such mutual funds will attract short term capital gains tax.
In the wake of India’s ambitious 25-year plan for economic growth, ITR has partnered with leading tax commentators to discuss what the future will look like for India and for the rest of the world.