Mutual Funds and Taxes
Different types of Mutual Funds attract different types of taxes.
Here is all you would want to know about taxes applicable on Mutual Funds in India.
Taxation | Equity Funds | Liquid funds/Money Market Funds | Debt fund/liquid plus Funds |
Short Term Capital Gain Tax | 15.45% | As per Income Tax Slab | As per Income Tax Slab |
Long Term Capital Gain Tax | Nil | Less of 10% without indexationor 20% with indexation | Less of 10% without indexationor 20% with indexation |
Dividend Distribution Tax | Nil | 28.325% |
Section 80C benefits through ELSS:Under the current tax laws, you can get an annual income tax benefit of up to Rs. 1Lakh if you invest in Equity Linked Savings Schemes, ELSS. However, the minimum term for these schemes is 3 years and you cannot withdraw your money before that time
*The education cess of 3% shall be levied on all investors.
*Short Term Capital Gain Tax indicated above is inclusive of education cess
**Dividend Distribution Taxes indicated above are inclusive of additional surcharge and cess.
Top 10 Tax Saving Mutual Funds to invest in India for 2016
Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. Franklin India TaxShield
4. ICICI Prudential Long Term Equity Fund
5. IDFC Tax Advantage (ELSS) Fund
6. Birla Sun Life Tax Relief 96
7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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