I have retired from a private company and do not have any pension. I am getting monthly dividend from my investments in MF. Do i have to pay income tax on this income?
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Post retirement Income Tax applicability on monthly MF dividends
Replies (3)
Yes. Over any gain.
Ok, thanks. Will it be considered under tax slab or it is "flat deduction" even if total income is under 3 lakh per anum?
Depends upon type of MF scheme. If it is equity MF, It will be considered under flat deduction but after overcrossing the exemption limit. E.g. If your total gain is 4 lakhs, so only 1 lakh will be taxed at special rate.
For non equity MF schemes it will be at slab rate.
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