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)
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