MFs having less than 35% AUM in domestic equity to lose indexation benefit. MFs having less than 35% AUM in domestic equity to be taxed as short term capital gains.
Enhanced tax benefits to offshore banking units operating in GIFT City. Offshore banking units to get 100% deduction on income for 10 years.
Tax on Royalty or technical fee earned by foreign (non-resident) companies hiked from 10% to 20%.
No change in tax on non-par savings insurance products (Rs 5 lakh cap remains)
No change in taxation on REITS/INVITS despite representation. (‘Repayment of loans’ from REITS to investor to be taxed as ‘income from other sources’ and NOT as capital gains).
No change in residential housing Rs 10 crore cap on capital gains re-investment.