Good Afternoon .
Please clarify on the following -
1) Rs 10 lakhs limit for exemption for Dividend income - is it only for dividend from eq.shares of Indian co or this 10 lakhs limit will include dividend from mutual funds also. For example - say if I have 6 lakhs income from eq .shares and say Rs 5 laks dividend from Mutual Funds total Rs 11 lakhs will I have to pay tax on the 1 lakh which is in excess of Rs 10 lakhs or my entire income from MF is exempt 100 %
2) If I sell my MF units say in July 2018 ( bought in 2016) will the NAV on 31st Jan 2018 applicable to determine the cap gain like the eq shares?
3) If my daughter is a NRI and student in USA under F1 student visa and she has Research Assistantship (RA) from the Univ in USA - and also she has bank deposit interest income in India - NRO - will my daughter fill in ITR 2 form with the RA earnings details in the FSI schedule or she need not fill as it is an income in USA earned and received there from the Univ and so not considered as Income in India at all.
Thanks for your help.
Regards
CAclubindia
