Income tax on income of Mutual fund
This query is : Resolved
Parth Patel
(Querist)
13 July 2009
Hi All,
Three years back i invested some money on Mutual fund as tax saving fund,
Now,i have sold that mutual fund on muturity,will the income and amount which i had invested in mutual fund is taxable or not,
Also the divident from the Mutual fund is taxable or not?
Thanks in advance to all of u
Parth
Three years back i invested some money on Mutual fund as tax saving fund,
Now,i have sold that mutual fund on muturity,will the income and amount which i had invested in mutual fund is taxable or not,
Also the divident from the Mutual fund is taxable or not?
Thanks in advance to all of u
Parth
13 August 2009
Dear Parth,
Your investment in MF is considered as a Long term investment for the purpose of income tax .
Sale of Long Term MF is exempted provided you have paid STT thereon.
Dividend from MF is exempt.
Your investment in MF is considered as a Long term investment for the purpose of income tax .
Sale of Long Term MF is exempted provided you have paid STT thereon.
Dividend from MF is exempt.
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