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

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..... Parity in Taxation between IDF – Mutual Fund and IDF-NBFC
Budget
Dated:- 28-2-2013

The Finance Bill 2013 proposes to provide parity in taxation between an IDF-Mutual Fund that distribute .....

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..... s 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 o .....

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..... f 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 .....

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..... income tax. *** DSM/RC/nb/42 (Release ID :92765)
News - Press release - PIB .....

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