Budget 2024: Finance Minister Nirmala Sitharaman presented her seventh consecutive budget earlier today and announced several tax changes across income slabs and capital gains on equities and mutual funds. Analyzing the changes in mutual fund investments, Radhika Gupta, Edelweiss MD and CEO of Edelweiss Asset Management Company (AMC), claimed that with this budget, the concept of indexation has gone away.
Gupta explained the changes in mutual funds (MFs) following the presentation of the Union Budget 2024 in the Lok Sabha today. The market expert said that before the Budget, mutual funds had different taxation categories.
‘’Some mutual funds were taxed as long term and short term, some mutual funds were taxed with marginal rates of taxation and some mutual funds had this concept of indexation. With this Budget, all of this gets simplified, and the concept of indexation goes away,” said Gupta.
