Taxablity of Income from Mutual Fund, Income Tax

[JOHN SHANNEL]

We Invested in Mutual Fund (Debt Scheme) last year. For the investments we receive Dividend after deducting Dividend Distribution Tax. Is it taxable. Please also mention the section in both case.

Thank You.

 

John Shannel

 

Posts / Replies

[sanjeev bajaj]

Dear John

Dividend recd. from mutual fund is not taxable as per clause 35 of sectuin 10 of IT ACT if mutual fund is registered with SEBI as per clause 23D of Section 10.

Clause 35 of Section 10 states any income from specified mutual fund.

If you see the definition of income it includes dividend.

Regards

SANJEEV BAJAJ