What is the tax liability for income received from your mutual funds

Question: What is the tax liability for income received from your mutual funds?

Answer(s)

Raju Kanumuri: As per section 10(35) of the income tax Act 1961, income received from mutual fund units specified under section 10 (23D) is exempt from income tax in India and the mutual funds are subject to deduction of distribution tax in debt oriented schemes.

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