Mutual funds engineer new category in quest for tax-efficient debt funds
Ever since finance minister Nirmala Sitharaman redefined debt mutual funds in the July 2024 budget as those that invest more than 65% in debt, there’s been an upheaval in the mutual fund industry.
That’s because pure debt funds are taxed at the holder’s income tax slab rate – which can be as high as 39% – regardless of the holding period.
» Read more about: Mutual funds engineer new category in quest for tax-efficient debt funds »