Debt mutual funds lose tax benefit in finance bill tweaks

The Lok Sabha on Friday passed the Finance Bill 2023 with dozens of amendments to remove the tax benefits debt mutual fund investors get, give income taxpayers exceeding the lowest taxable slab of ₹7 lakh a marginal leeway that ensures their tax doesn’t exceed their income in excess of that amount, increase scrutiny of credit card payments for foreign tour packages, and set up the much-awaited appellate tribunals for disputes related to Goods and Services Tax (GST)