TAXABILITY OF DIVIDEND
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2010
DEAR FRIENDS,
I WANT TO KNOW THAT DIVIDEND ON CASH MANAGEMENT FUND OR CASH BASE MUTUAL FUNDS IS TAXABLE OR NOT ?
WITH REGDS
NITIN JANGARA
+91808089791
I WANT TO KNOW THAT DIVIDEND ON CASH MANAGEMENT FUND OR CASH BASE MUTUAL FUNDS IS TAXABLE OR NOT ?
WITH REGDS
NITIN JANGARA
+91808089791
02 September 2010
As per Sec. 10(34) and 10(35), the Dividend and interest on units of mutual fund are exempt.
Briefly, four types of Income are covered by the section.
(1) Dividend referred to in sec. 115 - O (Divd.declared and paid by Domestic Co. on which DDT is paid)
(2) any income in respect of units of a mutual fund.
(3) income from units received by a unit holder of UTI
(4) income in respect of units from a specified company.
The word "income" is used in respect of the income from Mutual fund which covers the dividend also.
Hence, the Divid. from Mutual Fund whether Cash Management or any other is exempt.
Briefly, four types of Income are covered by the section.
(1) Dividend referred to in sec. 115 - O (Divd.declared and paid by Domestic Co. on which DDT is paid)
(2) any income in respect of units of a mutual fund.
(3) income from units received by a unit holder of UTI
(4) income in respect of units from a specified company.
The word "income" is used in respect of the income from Mutual fund which covers the dividend also.
Hence, the Divid. from Mutual Fund whether Cash Management or any other is exempt.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
02 September 2010
Thank you very much sir
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