Income tax on income of Mutual fund

This query is : Resolved

Parth Patel (Querist)
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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

Rasesh

Rasesh (Expert)
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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.