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    How will the withdrawal of long-term tax benefit on debt schemes impact bank & AMC stocks?

    The amendment to Finance Bill 2023 will not only alter the course of financial savings but will also impact the fortunes of stocks in the finance space

    Neha Dave
    March 27, 2023 / 01:00 PM IST
    How will the withdrawal of long-term tax benefit on debt schemes impact bank & AMC stocks?

    The move comes as a big tax shock to the mutual fund industry. It will alter the flow of financial savings and impact investors’ asset allocation decisions.

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    Highlights Debt mutual fund schemes will be taxed at income tax rates Remove tax arbitrage opportunity between bank deposits and debt funds Some financial savings will shift from MFs to banks Banks will be major gainers, another jolt for AMC stocks In a surprise move, the government has made a last-minute amendment to the Finance Bill 2023 to remove the long-term tax benefit for debt mutual funds. The finance bill was passed in the Lok Sabha on Friday. The move comes as a big...

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