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Scheme   GOI Bond   Capital Gain Bond   Postal Scheme     Planning   Financial   Child Investment   Retirement     NRI Corner   NRI Service   NRI Investment   NRI FAQs     Taxation   Introduction   Tax Deduction   Tax Calculator     Current Issues       Introduction     Tax Rules for Mutual Fund Investors* as per Finance Bill 2009 – SNAPSHOT EQUITY ORIENTED SCHEMES   Short Term Capital Gains tax Long Term Capital Gains Tax Dividend Income Dividend Distribution Tax TDS 2008 -09 2009 -10 2008 -09 2009 -10 2008 -09 2009 -10 2008 -09 2009 -10 2008 -09 2009 -10 Resident Individual / HUF 15% 15% Nil Nil Tax Free Tax Free Nil Nil Nil Nil Resident  Partnership Firms/AOP  /BOI 15% 15% Nil Nil Tax Free Tax Free Nil Nil Nil Nil Domestic Companies 15% 15% Nil Nil Tax Free Tax Free Nil Nil Nil Nil NRIs 15% 15% Nil Nil Tax Free Tax Free Nil Nil STCG - 15% ^ LTCG -Nil^ STCG - 15% ^ LTCG -Nil^ OTHER SCHEMES   Short Term Capital Gains Tax Long Term Capital Gains Tax Dividend Income Dividend Distri bution Tax–Other than Liquid / Money Market Schemes Dividend Distribution Tax – Liquid / Money Market Schemes TDS 2008-09 2009-10@ 2008-09 2009-10@ 2008-09 2009-10@ 2008-09 2009-10@ 2008-09 2009-10@ 2008-09 2009-10@  Re  sident Indi  vidual /  HUF As per slab As per slab 10% (20% with Inde xation) 10% (20% with Inde xation Tax Free Tax Free 14.163 % (12.50 % plus 10%  edu cation cess) 14.163 % (12.50 % plus 10%   edu cation cess) 28.325 % (25% plu 10% sur charge plus 3% edu cation cess) 28.325 % (25% plus 10% sur charge plus 3% edu cation cess) Nill Nill Partner ship Firms/ AOP / BOI 30% 30% 10% (20% with Index ation) 10% ( 20% with Inde xation ) Tax Free Tax Free 22.66 % (20% plus 10% sur charge plus 3% edu cation cess) 22.66 % (20% plus 10% sur charge plus 3% edu cation cess) 28.325 % (25% plus 10% sur charge plus 3% edu cation cess) 28.325 % (25% plus 10% sur charge plus 3% edu cation cess) Nill Nill Do mestic Com panies 30% 30% 10% ( 20% with Inde xation ) 10% ( 20% with Inde xation ) Tax Free Tax Free 22.66 % (20% plus 10% sur charge plus 3% edu cation cess) 22.66 % (20% plus 10% sur charge plus 3% edu cation cess) 28.325 % (25% plus 10% sur charge plus 3% edu cation cess) 28.325 % (25% plus 10% sur charge plus 3% edu cation cess) Nill Nill NRIs As per slab As per slab 10% (20% with Inde xation) 10% (20% with Inde xation) Tax Free Tax Free 14.163 % (12.50 % plus 10%   edu cation cess) 14.163 % (12.50 % plus 10%   edu cation cess) 28.325 % (25% plus 10% surc harge plus 3% edu cation cess) 28.325 % (25% plus 10% surc harge plus 3% edu cation cess) STCG - 30 % ^  LTCG - 20%^ (after pro viding for  index ation) STCG - 30 % ^  LTCG - 20%^ (after pro viding for  index ation) *Resident Individuals, HUF, BOI, AOP, Domestic companies and NRIs. ^ Plus applicable surcharge and secondary and higher education cess. @ Surcharge: The Finance (no.2) Bill of 2009 has abolished surcharge in case of Resident Individual, HUF, Partnership Firms, AOP and BOI on the amount of Income Tax. For other including corporate bodies, 10% surcharge on tax payable. Secondary and Higher Education Cess: Secondary and Higher Education cess to be levied at the rate of 3% calculated on tax payable plus applicable surcharge. PERSONAL INCOME TAX STRUCTURE Total Income Tax Rates Up to INR 160,000 (a)(b) NIL INR 160,001 to INR 300,000 10% INR 300,001 to INR 500,000 20% INR 500,001 and above (c) 30% In the case of a resident woman below the age of 65 years, the basic  exemption limit is Rs 190,000. In the case of a resident individual of the age of 65 years or above, the basic exemption limit is Rs 240,000. Surcharge is not applicable Education cess is applicable at 3 per cent on income tax. WEALTH TAX & GIFT TAX FOR MF UNITS Wealth Tax MF units are exempt Gift Tax MF units are exempt Income Tax units provisions on clubbing   for Gift of Units Dividend Income    ST / LT Capital Gain/Loss As dividend is tax free in hands of holders, hence no tax applicable   on either Donee or Donor   If the transferee or donee is Spouse, Son’s wife or minor son: gain/loss clubbed with that of the donor of units Other independent donee: gain/loss treated as donee’s gain/loss and not clubbed with that of donor SECURITIES TRANSACTION TAX Equity Oriented Fund Other than Equity Oriented Fund 0.25% of redemption value Exempt from securities transaction tax Mutual Fund would also pay securities transaction tax wherever applicable on the securities bought/sold As per Section 94(7) The loss due to sale of Units in the schemes (where dividend is tax free) will not be available for setoff to the extent of  the tax free dividend declared; if units are :- (A) Bought within three months prior to the record date fixed for dividend  declaration; and (B) sold within nine months after the record date fixed for dividend declaration. As per Section 94(8) The loss due to sale of original Units in the schemes, where bonus Units are issued, will not be available for setoff; if  original units are :- (A) Bought within three months prior to the record date fixed for allotment of bonus units; and (B) sold  within nine months after the record date fixed for allotment of bonus units.  However, the amount of loss so ignored shall be deemed to be the cost of purchase or acquisition of such unsold bonus  units.

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