Sir, I have subscribed for 2 MF (equity) Dividend re-investment plan schemes for a period of 10 years and more. Now 8 years completed and I want to redeem the fund. Is the amount received is taxable. If taxable on what amount tax to be calculated.
1) If received after Maturity is it taxable or exempted
2) If surrendered before maturity?
Pl. reply with details.
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Usually these schemes do not have lock in period.
So, whatever you will receive before maturity (8 years) or after maturity (10 years) will be tax exempt, except STCG over the dividend part re-invested or any SIP investment in last 12 months (which will attract 15% STCG).
Thanks for your Clarification.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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