Please guide me - the treatment under Income Tax Act for Income earnerd on investment in "UTI Fixed Term Income Fund-Series XVI-V Growth" the total investment period is more than 3 years.
It is said by executives of UTI that any income earned on any UTI Mutual Fund is exempt from Income Tax. But they are unable to provide the information about the section under which such income is exempt.
Also the Documents in respect of Mutual Fund investments are also silent in respect of taxability at the time of redemption.
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