Economic TimesLean R·
Foreign or local? Investors at lossover GIFT funds
Mumbai: Investors betting on overseas markets through GIFT City funds are in a quandary over how to report the investments in their tax returns. What has fuelled the confusion is the differing views among fund houses.Asset manager Parag Parikh, which runs two retail outbound GIFT funds, has advised investors that the holdings should be disclosed as 'foreign assets' in Income tax return (ITR). However, in an FAQ, the fund house DSP, offering a global equity fund from GIFT, said investors are not…
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