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Regarding Tax in Mutual Funds.
I am doing a farming. Since last 3 months i was planning to invest in mutual funds for long term plan. My all income come from Agriculture products, so is there any Tax i have to pay from Income earn from Mutual funds. How much Tax is I have to pay ?? and is there any way to Save Tax ??
Replies (1)
No dividends and income received from units of mutual fund is exempted under section 10 of income tax act and if you are investing in notified units of mutual funds under section 10(23D) (generally all the mutual funds are notified only) then you can claim deduction under section 80C also of the amount invested in mutual funds
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