CHAPTER NISM VA 8

A mutual fund’s income is exempt from income tax.

The Investor in Growth Plan Would Earn ——Whenever One Sells the Units of the Scheme.

The investor in the dividend plan would earn when one sells the units.

The schemes holding more than —- percent of the assets under management in equity shares listed on recognised stock exchanges in India are classified as equity-oriented mutual fund schemes.

The difference between the purchase price of the units and the selling price of the units would be treated as—[I ]Selling Price Is Higher Than the Purchase Price, Capital Gain [Ii] Selling Price Is Lower Than the Purchase Price, Capital Gain [Iii] Selling Price Is Higher Than the Purchase Price, Capital Loss [Iv] Selling Price Is Lower Than the Purchase Price, Capital Loss

STCG on equity oriented funds:

A invest a lumpsum of Rs. 10000 in equity fund on 1 April 2019 @ 25 per unit and sold half of the unit @ 35 nav on 31.dec.2019. Calculate capital gain and tax to be paid.

Long-term is defined as holding period of more than — years in case of non-equity oriented funds, whereas the same more than — year in case of equity-oriented funds.

LTCG on equity oriented fund :

STCG on non equity oriented fund

LTCG on non equity oriented fund :

If X purchased 10000 units of equity mf @ 20 on 31dec2016 and decided to sell the unit @ 30 on 31 mar 2018 what will be the cost of acquisition for unit sold on 31 mar 2018.Note: Highest Quoted Price on 31 JAN 2018 IS 25.

A invest a lumpsum of Rs 100000 in equity fund on 1 April 2019 @ 2.5 per unit and sold all the unit @ 4 nav on 31.may 2020. Calculate capital gain and tax to be paid.

Dividend income from mutual funds is tax-free in the hands of the investor.

The dividend distribution tax is considered a tax in the hands of the investor, and Hence it is available for setoff against any other tax liability.

Capital loss, short term or long term, cannot be set off against any other head of income.

Short term capital loss is to be set off against ——-

Long term capital loss can be set off against –

Suppose the record date is April 1, 2019, for dividend of Rs 1 per unit for a scheme. Assume an investor buys units at Rs 15 on 1 march 2019 and sells those units at Rs 12. April on 25 oct 2019 . Calculate capital loss allowed to be set off.

STT is not applicable on

If one is investing in ELSS scheme through SIP, the lock-in for the entire amount would get over on completion of 3 years from the date of the first SIP instalment

Equity linked savings schemes (ELSS) are eligible for deduction under—- and up to —-

ELSS has a lock in of:

What is the tax applicable on the income earned by the mutual fund schemes?

Redemption from which of the following mutual fund schemes would attract Securities transaction tax (STT) for an investor?

In case of capital gains from mutual fund investments, tax deduction at source (TDS) is applicable for: _________

The income tax act allows setting-off of the short term capital loss against long term Capital gains.State whether true or false.