LTCG indexation came as a last time announcement, few of my FDs, treasury bonds were not liquidated in time to avail this benefit before 31 mar 2023.
My complaint is that Govt. did not announce in budget 2023 and did not give 60 days notice.
I need a legal complaint logged to provide 2 more months to do the rebalancing process.
Should 60 days notice be given every time?
We had a few days before the FY ended.
Yes major changes like this should be introduced in the budget not just before year end.
I think FM mentioned in one of the statement that if AMFI comes up with something we may look into the clause. May be you can write to AMFI . Other legal ways can also be explored.
I think the reasoning to remove this clause is not correct. FM should reconsider it.
Exactly, this was very treacherous move. They have introduced 64 amendments . By definition, amendments should be some changes in the budget but most of them were totally new clause. They even didn’t had any parliament debate
i dont have any complaint in bringing it into law, its none of my business.
But adequate time should be given. Family members will be out of city, getting their signatures couriered etc will not happen that fast
yes i will write to AMFI
https://twitter.com/NagpalManoj/status/1639850945574993921?s=20
I find reasoning given by FM is not totally apt , as per them there is no Credit or Interest rate risks in Debt mutual funds as FD which is totally wrong reasoning hence they are removing this. This might be true for money market or overnight funds but not all funds. If FM can guarantee returns on all debt funds and have inflation target set to 2% instead of 6 % , I will happily accept the clause. So ,I am just questioning the Rationale
But off course, I can just raise my voice as a citizen with logic can’t change the law.
yes i am also okay if the inflation index has a upper limit of 4%. Otherwise we are giving open licence for commodity prices to spiral out of control.
i seriously doubt something is cooking.
Modi Government is not known to reverse its decisions so easily. You can write to AMFI but I doubt that they will even take up the matter before GOI.
Filing a PIL is the only option but for that you’ll have to pay Lawyer’s fee. Bottom-line is that you have to loosen your purse strings. The choice is yours whether you want to pay the lawyer or Government. I think paying the extra taxes will be more affordable option as there’s no guarantee that you’ll win the case and how long will the case last.
thanks. will try
So basically when LTCG w/indexation option was available on debt funds, you had your money invested in FD and treasury bonds.
But when that is removed you immediately wanted shift from FD to debt fund and didn’t had sufficient time to do it?
I really find this poetic 
My parents had their funds in Kerala state Treasury, if you are not aware - its like the regular fixed deposit that pays you monthly interest which is taxable. And both of them are at highest tax slab even though senior citizens.
Over the last year I already converted close to 1.7cr from bonds to debt funds. Few more were pending as my mother is with my sister who is in a different city.
I required the signature of my mom to foreclose some bonds. When she couriered it back first - the area she signed was incorrect so i had to do it twice and the dates slipped.
The reason i did in a staggering manner was not to break all bonds at once and pay the penalty. So i kept doing it as and when the bonds matured.
The news of debt ltcg came in & then i decided to foreclose because i know 10 years from now i will save more money via LTCG
still not convinced? you need to see the statements??
I never doubted it. I just said this is poetic.
Anyway, what’s done is done. Govt have absolute powers on taxation and filing petition or even law suits is not going to change anything.
anyways i spoke to an advocate here, he says at individual level nothing can be done.
and since its a policy change a group petition will help, so he is reaching out to some CAs for some clarification.
Don’t waste your time in it. You will loose more money than the tax you might save, and nothing might come out of it.
Take it on chin and move on
you know me, i wont pursue if the risk: reward isnt good 
I don’t agree on this, might be true for small capital but me too haven’t been able to to deploy what I would have wanted due to time constraint. For traders ,it’s the working capital management ,you might not understand.
Spoken like a true trader 
My understanding does not help. It’s the govt which won’t understand.