Important update for Debt mutual fund holders/ Market linked Debentures
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We would like to bring to your kind attention that as per the amendment made in Finance Bill, 2023, w.e.f 1.04.2023, any long-term capital gain arising on the transfer of debt mutual funds/market-linked debentures will be taxed as per the slab rate applicable on the assessee.
Currently, taxability is as follows-
1. Long-term Capital gains on debt mutual funds are taxable at 20% with an Indexation benefit.
2. Market-linked debentures are taxable at 10%.
Therefore, In order to avail the benefit of Indexation you may sell out the above-mentioned funds on or before 31.03.2023, else the same would be taxable as per the slab rate applicable to you.
Team JJ Tax