Additional units received from mutual funds in lieu of dividends whether taxable or not under the Income tax Act 
mutual funds
Bharadwaj (Self Employed) (177 Points)
23 July 2009
CA Hardik
(Profession)
(92 Points)
Replied 25 July 2009
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Additional units received are valued at NAV at the time of credit
However value of additional units received is regarded as dividend which is exempt u/s 10(34) of I-T Act
VISHRANT
(ARTICLE)
(25 Points)
Replied 25 July 2009
Please refer to Section 115 R of the Income Tax Act, 1961.
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