Debt and equity Funds taxation in Direct tax code

Posted: 16 Oct 2010 11:32 PM PDT

The Direct Taxes Code 2010 (DTC) has prompted tax payers to reconsider investment plans. The key difference lies in the exclusion of certain savings schemes from the list of items eligible for deduction of up to Rs 1,00,000 from gross total income. Ulips and ELSS have been left out and only approved funds like PF, superannuation fund, gratuity fund and pension fund have been retained for deduction. DTC also provides for an extra aggregate deduction of up to Rs 50,000 for payment to life...

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