WebFeb 12, 2024 · The LTCG of up to Rs. 1 lakh is tax-free, whereas gains over Rs. 1 lakh is subject to LTCG tax of 10% (plus 4% cess) without any indexation benefit. Equity-Linked … WebApr 14, 2024 · The income tax law of taxing dividends came into effect from April 1, 2024 (FY 2024-21). Earlier, the dividends were tax-free in the hands of investors. However, now dividends received from equity shares or any mutual fund schemes (equity or non-equity) are taxable in the hands of an investor. TDS on dividend income was introduced as well.
How Are Income From Stocks And Mutual Funds Taxed? ELM
WebApr 7, 2024 · Equity Linked Saving Schemes (ELSS) are mutual funds that invest primarily in equities and offer tax benefits under Section 80C of the Income Tax Act, 1961. ELSS has a lock-in period of three years, and investments up to Rs. 1.5 lakhs in ELSS can be claimed as a deduction from taxable income. Long-term capital gains from ELSS investments are ... WebFunds buy & sell too. Just as with individual securities, when you sell shares of a mutual fund or ETF (exchange-traded fund) for a profit, you'll owe taxes on that " realized gain." … shanky dancing on smackdown
Small savings schemes vs Debt mutual funds Value Research
WebMutual fund tax benefits under Section 80C - Investments in Equity Linked Savings Schemes or ELSS mutual funds qualify for deduction from your taxable income under Section 80C of the Income Tax Act 1961. The maximum investment amount eligible for tax deduction under Section 80C, is Rs 1.5 lakhs. WebApr 11, 2024 · Tax Treatment. If sold after 3 years from purchase date, long term capital gain tax will be applicable. Current tax rate is the lower of (a) 10% of profit or (b) 20% of … WebSep 19, 2024 · STCG tax on the sale of units of equity-oriented mutual fund schemes is charged at 15% as per section 111A of the Income Tax Act, 1961. For instance, if you … polymyalgia rheumatica medications