Governement working on tax sops for retail investors in CPSE, Bharat-22 ETF
Updated : July 01, 2019 07:11 AM IST
The Department of Investment and Public Asset Management (DIPAM) has written to the Central Board of Direct Taxes (CBDT), seeking their opinion on whether equity linked saving scheme (ELSS) benefit under section 80C of Income Tax Act can be extended to retail investors of these ETFs, an official has said.
As per the plan chalked out by the DIPAM, retail investors in CPSE and Bharat-22 ETF would be given option to enjoy tax breaks just like investors in ELSS mutual funds.
If the CBDT, which is the apex decision making body for direct tax matter, gives concurrence, then DIPAM would work out a final plan and an announcement may be made in the 2019-20 Budget to be unveiled on July 5.