Post deliberation, SEBI announced the creation of a new category of Flexicap Fund on 6th November, 2020. Why Flexicap Fund? In comparison, Flexicap funds are devoid of any such rigidity and offer the fund manager maximum freedom in terms of market capitalisation allocation. ICICI Mutual Fund which does not have any flexicap fund is joining the club with a new fund offer which is open from 28th June to 12th July, 2021. Taxation of Flexicap fundsUnder the Income Tax Act, a flexicap fund is considered an equity mutual fund making the gains made from investment in this category eligible for concessional rate of tax.

Source: Mint July 04, 2021 04:30 UTC