Income tax on income of Mutual fund

This query is : Resolved

Parth Patel (Querist)
Follow

13 July 2009 Hi All,

Three years back i invested some money on Mutual fund as tax saving fund,

Now,i have sold that mutual fund on muturity,will the income and amount which i had invested in mutual fund is taxable or not,

Also the divident from the Mutual fund is taxable or not?

Thanks in advance to all of u

Parth

Rajan

Rajan (Expert)
Follow

13 August 2009 Dear Parth,

Your investment in MF is considered as a Long term investment for the purpose of income tax .

Sale of Long Term MF is exempted provided you have paid STT thereon.

Dividend from MF is exempt.