TAX ON MUTUAL FUNDS-SIP-STP-BONUS-DIVIDEND STRIPING

Posted: 17 Jun 2010 08:24 PM PDT

It's important to note that under the Income Tax Act, 1961, there is mention of only one type of mutual fund. i.e. "Equity Oriented Fund". It implies that from Income Tax angle mutual fund schemes can be categorized into- (a) Equity oriented fund (Scheme) (b) Non Equity oriented fund (Scheme) "Equity Oriented Fund" is defined in explanation (b) OF CHAPTER XII-E, of Income Tax...

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