V.D.N. NARASIMHULU (INDIVIDUAL) (46 Points)
05 January 2018Sir, I have subscribed for 2 MF (equity) Dividend re-investment plan schemes for a period of 10 years and more. Now 8 years completed and I want to redeem the fund. Is the amount received is taxable. If taxable on what amount tax to be calculated.
1) If received after Maturity is it taxable or exempted
2) If surrendered before maturity?
Pl. reply with details.
VDN - email id: vdnvnt @ yahoo.com
Read more at: https://www.caclubindia.com/forum/cash-payment-limit--442040.asp?offset=1
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170950 Points)
Replied 05 January 2018
Usually these schemes do not have lock in period.
So, whatever you will receive before maturity (8 years) or after maturity (10 years) will be tax exempt, except STCG over the dividend part re-invested or any SIP investment in last 12 months (which will attract 15% STCG).
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
CAclubindia
