WebUnits from a specified company Shall deduct TDS at 10% at the time of credit of such income to the payee’s account exceeding Rs 5,000 or at the time of making payment, whichever is earlier. Purpose of Section 194K Under the previous income tax laws, dividends were taxed twice. WebApr 15, 2024 · ELSS Capital Gains Taxation Capital gains from ELSS are treated in the same way as other equity instruments for income tax calculations. Short-term capital gains (STCG) is taxed at a rate of 15%. Long-term capital gains (LTCG) from ELSS is taxable only if the gains exceed Rs. 1 lakh during the financial year.

ELSS Withdrawal: How to Redeem ELSS Investment?

WebJul 5, 2024 · TAXATION ON REDEMPTION OF ELSS. we have received 21lacs from redemption of elss after deduction of TDS u/s 194DA. the question is how we can show … WebSep 5, 2024 · Equity Linked Saving Scheme or ELSS are taxed like any other equity mutual fund scheme. Equity investments held over a year qualify for long-term capital gains tax of 10 per cent on gains of over Rs 1 lakh in a financial year. Even the proceeds from ELSS would be taxed similarly. The fund house does not deduct any tax. phiphi logistic

Taxes on Mutual Funds: Benefits & Capital Gains Tax

WebFeb 2, 2024 · ELSS or tax saving mutual funds qualify for tax deduction under Section 80C of the Income Tax Act. One can invest in ELSSs and claim a maximum tax deduction of up to Rs 1.5 lakh in a financial year. However, many investors were attracted to ELSS mainly because the returns from them were tax-free after the lock-in period of three years. WebELSS funds are the only type of funds that give investor tax benefit under Section 80C of the Indian Income Tax Act, 1961. Read this article to know more about how elss funds are … WebAnswer: Tax depend which type of mutual fund you have invested and holding period of investment. Broad categories are: Tax Saving Equity funds Non tax saving equity funds … tspc full form in vlsi