Web Exclusive HDFC AMC, UTI AMC: AMC stocks may fall up to 15% on debt fund tax blow
Shares of Asset Management Company slipped to fresh 52-week lows on Friday, after the Government of India proposed investment in mutual fund; below 35 per cent in equities, shall be considered as short-term capital gains. Also, debt funds invested for a period of over three years will be eligible for long-term capital gains tax (LTCG) and their gains will be taxed at 20 per cent with indexation benefits.
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