Budget 2023 || Income Tax Updates & How Mutual Funds are Taxed ?
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Sebi notifies SIF, new asset class between PMS and mutual funds with minimum investment of Rs 10 lakh
Key Points About Specialized Investment Fund (SIF) Overview: New Asset Class : SIF offers more flexibility than regular mutual funds and requires a lower minimum investment compared to Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs). Minimum Investment : ₹10 lakh for regular investors. No limit for accredited investors with higher financial capacity and risk understanding. Operational Features: Scheme Categories : Mutual funds can launch multiple categories under SIF. Segregation : No need to separate MF and SIF operations, but branding and advertisement must be distinct. Separate Identity : Fund houses must create a separate website and identity for SIF. Key Regulations: TER Structure : Similar to mutual funds with AUM slab-wise Total Expense Ratio (TER). Approval : Fund houses need SEBI approval through a draft offer document to launch SIF. Fund Manager : Must hold relevant NISM certification as specified by SEBI. Investment Guidelines: Debt Investm...
General Guidelines for ITC Shareholders - How to Split the Purchase Cost Between ITC and ITC Hotels Shares After Demerger
ITC Ltd. Demerges Its Hotels Business: What It Means for Shareholders ITC Ltd. has officially separated its hotels division, creating a new company called ITC Hotels Ltd. (ITCHL). This means ITC shareholders will receive shares of ITCHL as per the demerger ratio. How Will Shareholders Benefit? If you held ITC shares as of the record date (January 6, 2025), you will get shares of ITC Hotels Ltd. in the ratio of 1:10 . This means for every 10 shares of ITC Ltd. , you will receive 1 share of ITCHL . Tax Implications for ITC Shareholders Taxes will apply only when you sell either your ITC shares or ITCHL shares. The tax treatment depends on how long you have held the shares: Short-term capital gains (STCG) – If sold within one year of purchase (for listed shares). Long-term capital gains (LTCG) – If held for more than one year . The holding period for ITC Hotels shares will be counted from the date when you originally bought ITC Ltd. shares. Cos...