The mutual fund industry has high expectations from the Union Budget 2025. If Finance Minister Nirmala Sitharaman fulfills these expectations, the mutual fund industry will get wings. Currently, the tax structures for mutual fund schemes are different.
This creates confusion among investors regarding tax. AMFI, an organization representing the mutual fund industry, has advised the government to eliminate the difference in tax rules. This will bring transparency in investing in mutual funds and will increase investors’ interest in investing.
There is a need to simplify the tax structure
Consultancy firm Deloitte has also advised to remove the shortcomings related to tax. It believes that there is a need to simplify the rules of GST. Currently, many medium and small businesses have to face problems in the case of GST. Deloitte says that if the government simplifies the GST framework, then compliance will increase. Increase in compliance means that the government’s revenue will increase.
The tax burden on SMEs needs to be reduced
Deloitte also says that currently the tax burden on SMEs is high. High taxes reduce the growth potential of SMEs. The government should make such tax rules for SMEs that taxes are low and they get full opportunity to expand their business. If the government provides a favorable environment to SMEs, then their investment in renewable energy and technology will increase. This will increase their productivity.
AMFI advised to simplify the tax rules for mutual funds
AMFI also says that there is a need to make major changes in India’s tax structure. Tax rules will have to be made according to international rules. This will boost economic growth. Experts say that to attract foreign investors, it is necessary to make the tax structure simple and transparent. This will also reduce cases of tax evasion. This will also increase the government’s income. Experts are of the opinion that foreign investors invest only when they see stability in tax rules.
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