Mutual Funds
This query is : Resolved
03 June 2008
What will be the tax treatment for switching over of Mutual Fund ? Is it taxable in the case of Short-term? Which section of the Income-Tax support this case?
03 June 2008
it will be treated as simple redemption and will be taxable as ltcg/stcg depending on duration.
04 June 2008
Dear friend
Dividend from Mutual fund are totally exempt in the hands of receipients as Div. Distr tax (DDT) is applicable and paid by the MF itself.
As far as Equity oriented funds if held foe more than one year LTCG will be exempt u/s 10(38).
Others will be taxed as STCG at 15% from AY 2009-10.
Dividend from Mutual fund are totally exempt in the hands of receipients as Div. Distr tax (DDT) is applicable and paid by the MF itself.
As far as Equity oriented funds if held foe more than one year LTCG will be exempt u/s 10(38).
Others will be taxed as STCG at 15% from AY 2009-10.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
