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taxation of mutual funds

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Thank you for writing in to us. Below is the answer to your query


How much Tax calculated on Mutulfund Income ? Interest of Savings A/c is Calculated in total income or not ?


Dear Sundeep,

Taxation of Mutual funds are as follows
Dividend Income:
Exempt in the hands of investors for both equity and debt schemes. However, AMC is liable to pay DDT in case debt schemes.
Capital Gain Tax on Equity Scheme
LTCG – Exempt subject to payment of STT
STCG – Taxed at 15% plus cess/surcharge subject to payment of STT.
Capital Gain Tax on Debt Schemes:
LTCG – Taxed @ 20% (with Indexation) or 10% (without Indexation) – Plus applicable surcharge and Education cess
STCG – Taxed at the normal rate of tax as applicable to the assesse

Interest on savings bank account is included in the total income and taxed as per the slab rate you belong


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The Yogi

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