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Dividend Reinvested Income

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(Querist)
16 June 2011 Dear Sir,

I wanted to know dividend reinvested with Mutual Fund, is it income or investment? if it is income then is it taxable or not?

Kindly clarify this....

Thanking You,
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
16 June 2011 It is both income and Investment. Entry in books of acconuts is as follows:

Dr Investment in Mutual Fund a/c
Cr Dividend from mutual funds a/c

Any dividend received from mutual fund whether in cash or reinvested is exempt from income tax.
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