Income tax on income of Mutual fund
This query is : Resolved
Parth Patel
(Querist)
14 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
14 July 2009
In case you have invested in an Equity Fund or a fund in which is Equity oriented, then there is no tax on any capital gain earned at the time of maturity.
Dividend from the above mentioned schemes is also exempt from tax.
The above would not hold good if the investment is in a debt oriented scheme.
Dividend from the above mentioned schemes is also exempt from tax.
The above would not hold good if the investment is in a debt oriented scheme.
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