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Mutual funds are ideal as long term investment avenues for retail investors. To encourage investments in this avenue, the Government of India offers investors a spate of tax benefits thus ensuring maximum benefit from mutual funds held beyond a year.

Sample some of the key benefits and refer to the table for a detailed list of tax rates for different types of schemes

·       Avail deductions under Sec 80C of the Income Tax Act by investing up to a maximum of Rs. 1 lakh in designated Equity Linked Savings Schemes (ELSS). Such investments have a compulsory lock in period of 3 years.

·       First time retail investors in equity with a gross total income of up to Rs. 12 lakh can invest up to Rs. 50,000 in specific MF schemes under Rajiv Gandhi Equity Savings Scheme (RGESS) and benefit from deductions under Section 80 CCG

·       No tax is to be paid for redemption of units of an equity scheme held for over a year

·       In case of non-equity mutual funds, benefit from indexation (refer table below)

·       No tax is to be paid on dividends. The fund deducts a dividend distribution tax at source in case of non-equity schemes

·       In case of Equity Oriented Scheme, no dividend distribution tax is deducted at source by the fund house

 

 

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