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TDS on Investments

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(Querist)
11 August 2010 I have invested some amount in mutual funds and they have deducted TDS on the amount invested. I want to Is amount invested in mutual funds is taxable and can I claim the TDS back.

Thanks
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
11 August 2010 Investment in Mutual Fund is ot taxable and Mutual fund should not deduct Tax on the amount inveted by the invester. Any profit on sale of such fund is taxable depends on certaimn conditions. I think Mutal Fund has deducted entry load on the amount invested not Tax.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
11 August 2010 Investment in mutual fund is not taxable & tds can not be deducted on the sum invested.

As per SEBI circular of last year, entry loads are also been removed. So just check with your fund management company about the deduction.
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srinath

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srinath (Expert)
11 August 2010 if u r non residents while redeeming the amount mutual fund do deduct TDS
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