HDFC Prudent Fund
shadab shaikh (133 Points)
01 November 2020
Is Maturity of HDFC Prudent Fund taxable ? and if so under what head? and is intrest taxable also?
1 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5175 Points)
Replied 01 November 2020
HDFC Prudence Fund was an equity-oriented hybrid scheme or balance scheme that is considered as an equity scheme for the purpose of taxation. Investments in equity schemes held over a year qualify for long-term capital gains tax of 10 per cent.
Balanced advantage funds may be treated as non-equity schemes if their equity holdings fall below 65 per cent over a prolonged period, according the notice. If investments in debt schemes are held for more than three years, they qualify for long-term capital gains tax of 20 per cent with indexation benefit.
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