Service Tax exemption given to MF agents of Asset Management Companies (AMCs) has been withdrawn through this budget 2015-16. A novice investor pays Rs 150.00 and an existing investor pays Rs100 otherwise for services. On top of it, Mutual Fund investing will attract 14% Service Tax on the invested amount which hitherto was not applicable. and do not forget about education Cess 3% which already come with the service tax in addition to the swatch bharat 2% surcharge that will be due once notified in future.
In order to facilitate consolidation of MF schemes, the minister has
proposed, ”...To provide tax neutrality to unit holders upon
consolidation or merger of mutual fund schemes provided that the
consolidation is of two or more schemes of an equity oriented fund or
two or more schemes of a fund other than equity oriented fund.”
There is an increase in surcharge on income distribution from debt funds from 10% to 12%
As an investor, one should consult a distributor for finnacial planning and managing one's investment just like you consult your doctor.
Conscious planning of expenses and saving would help create a happier world.
Happy investing
Start Early, Proceed Systematically, Look Long Term
Let Your Money Work For You
All You Wanted to know about money
