Tax Rate Reduction on Mutual Fund Management Fees.

SRO No. 49-AIN/Income Tax-26/2024
National Board of Revenue, under section 76(1) of the Income-tax Act, 2023 (Act No. 12 of 2023), has reduced the tax rate on earned income from mutual fund management fees by asset management companies to 15%. Effective immediately, this amendment is valid until the fiscal year 2026-2027.