Tax on income from mutual fund - urgent
This query is : Resolved
21 March 2014
Hello Sir,
A client has invested in BNP Paribus Mutual Fund - Daily Dividend Scheme.
Where he receives Dividend in form of units. No cash outflow.
He purchased 209 units for Rs.2,00,000.
Sold 230 units for Rs.2,32,000 within 1 yr.
These are the only 2 amounts reflecting in Pass Book regarding Mutual Funds.
Papers of Mutual Funds are not available with client and he isn't bothered.
Now out of Rs.32,000 how shall I determine the Dividend exempt and Short Term Capital Gains.
Thanks in Advance.
A client has invested in BNP Paribus Mutual Fund - Daily Dividend Scheme.
Where he receives Dividend in form of units. No cash outflow.
He purchased 209 units for Rs.2,00,000.
Sold 230 units for Rs.2,32,000 within 1 yr.
These are the only 2 amounts reflecting in Pass Book regarding Mutual Funds.
Papers of Mutual Funds are not available with client and he isn't bothered.
Now out of Rs.32,000 how shall I determine the Dividend exempt and Short Term Capital Gains.
Thanks in Advance.
25 March 2014
His Mutual Fund Account statement can be requested from the Mutual Fund Company.
Your clients MF Distributor can also help in this regard.
The Account statement will have clear mention of the dividend amount. Balance would be capital gains.
Your clients MF Distributor can also help in this regard.
The Account statement will have clear mention of the dividend amount. Balance would be capital gains.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Regarding TDS Applicability For Director Remuneration
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
