PAN to be sole identification for all market participants, with appropriate affix or suffix to identify the nature of investment product. (MIN is so shortlived !!!)
Individuals to be allowed to invest in overseas securities through Indian mutual funds
Mutual Funds to be allowed to launch and operate dedicated infrastructure funds
The dividend distribution tax (DDT) on money market mutual funds and liquid funds has been increased in the latest Union Budget to 25%. Earlier, the DDT was lower for a retail investor (12.5%) and higher for a corporate (20%). Now it is a uniform 25%.
* impact of budget for 07-08