Jaitley announces some concessions, tax on mutual fund from July 10


arun-jaitleyThe government announced some concessions for mutual fund industry and income tax payers.

The high tax rate of 20 per cent on the debt mutual fund will apply from July 10,” Finance Minister Arun Jaitley said in Lok Sabha.

The Lok Sabha passed the Finance Bill, 2014 completing the budgetary exercise in the Lower House.

Emphasizing on having low tax regime and smooth tax system, the Minister said the government wants to revive the investor sentiment and mop up additional resources to fund social welfare activities.