Recent budgets have overhauled debt fund taxation, impacting how conservative hybrid funds are treated. Today's Ask Wallet Wise query decodes how they are taxed and whether a rebate under Section 87A applies to them.

Moneycontrol’s Ask Wallet Wise initiative offers expert advice on matters of personal finance and money. You can email your queries to askwalletwise@nw18.com, and we will try and get a top financial expert to address your queries .

There have been many changes in debt fund taxation. I know equity gains are treated as special income, not counted in the Rs 12 lakh rebate limit. I need clarity on conservative hybrid funds. If my rental and FD income is Rs 8 lakh and I have Rs 80,000 long-term capital gains from conservative hybrid funds, making total income Rs 8.8 lakh, will I

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