Hi everyone :)
After reading on various blogs and forums on internet about how DTC is going to impact PPF, I am a bit confused.
Some sites say that PPF is not going to stay a Tax Saving Instrument after DTC. Some say it will remain as a Tax Saving option. Which is true?
Also, I read somewhere that, new investments made in PPF after DTC is applied will be taxable while old investements prior to DTC will remain non-taxable. Plz clarify. I am not sure whether to open a PPF a/c or not?
Now, Regarding ELSS - I understand that ELSS is not to stay as Tax Saving option in future (after DTC). I have invested some amount this yr in ELSS funds. If I redeem my investement after 4-5 yrs (when DTC will be applicable), will the amount be taxed? In case LTCG tax becomes applicable by then will I need to pay that? Or will the investements made now will treated according to current rules in future also?
Plz clarify :)
CAclubindia
