Mutual fund income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2009
1.What about gain recived from sale mutual fund units under growth scheme of mutual funds.
2. The mutual fund's income is taxable under which head?
3. only the dividend received from mutual fund is only exempeted U/S. 10 (35) or any other gain recevied is also exempted?
Thanks in advance.
2. The mutual fund's income is taxable under which head?
3. only the dividend received from mutual fund is only exempeted U/S. 10 (35) or any other gain recevied is also exempted?
Thanks in advance.
22 December 2009
Any income earned on mutual funds is tax free.
- Sec. 10(35)
If holding period of mutual funds is upto one year then these are short term capital gains otherwise long term capital gains.
Dividend is also exempt from tax.
- Sec. 10 (34)
Long Term Capital gains derived from Equity Oriented Fund is exempted u/s 10(38)
- Sec. 10(35)
If holding period of mutual funds is upto one year then these are short term capital gains otherwise long term capital gains.
Dividend is also exempt from tax.
- Sec. 10 (34)
Long Term Capital gains derived from Equity Oriented Fund is exempted u/s 10(38)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR validation error - Balance sheet is not filled
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Bank Accounts in Balance Sheet for ITR 3
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
