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TAXABILITY OF DIVIDEND

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 September 2010 DEAR FRIENDS,
I WANT TO KNOW THAT DIVIDEND ON CASH MANAGEMENT FUND OR CASH BASE MUTUAL FUNDS IS TAXABLE OR NOT ?

WITH REGDS
NITIN JANGARA
+91808089791
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SANJAY TALATI

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SANJAY TALATI (Expert)
02 September 2010 As per Sec. 10(34) and 10(35), the Dividend and interest on units of mutual fund are exempt.

Briefly, four types of Income are covered by the section.

(1) Dividend referred to in sec. 115 - O (Divd.declared and paid by Domestic Co. on which DDT is paid)

(2) any income in respect of units of a mutual fund.

(3) income from units received by a unit holder of UTI

(4) income in respect of units from a specified company.

The word "income" is used in respect of the income from Mutual fund which covers the dividend also.

Hence, the Divid. from Mutual Fund whether Cash Management or any other is exempt.
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Querist : Anonymous

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Querist : Anonymous (Querist)
02 September 2010 Thank you very much sir
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