Dividend Reinvested Income
This query is : Resolved
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,
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,
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.
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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