Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Parity in Taxation between IDF - Mutual Fund and IDF-NBFC

Posted on 28 February 2013,    
 3063 Views   Share Report

The Finance Bill 2013 proposes to provide parity in taxation between an IDF-Mutual Fund that distributes income and an IDF-NBFC that pays interest when the payment is made to a non-resident. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that the rate of tax on such distributed income or interest will be 5 percent. He also stated that investor protection fund set-up by depositor for protection of the interest of beneficial owners will be exempt from income tax.


Popular News

Follow Book Book GST Live Course Book Business Course caclubindia books

Browse by Category