Dividend income which directly reinvested in mutual fund, can we add this as a other sourses income as per income tax act
This is exempted or not.
& what is impact when we will sale it
3 Replies
Sunshine
(Helping All)
(10575 Points)
Replied 12 July 2011
no this is exempt.....dividend from Indian company is exempt no matter how we use it...again if we receive dividend on the mutual funds that will also be exampt u/s 10(34)..
vipul patel
(Ahmedabad)
(320 Points)
Replied 12 July 2011
yes agree with above
if this mutual fund sale than it chargable under capital gain base on nature short term or Long term
Sunshine
(Helping All)
(10575 Points)
Replied 12 July 2011
yes...and the cost of acquisition will be the amount of dividend u invested in buying the MF...
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