Tax Rate
The rates are for the Financial Year 2013-14
Dividend and Capital gain taxation from 1st April 2013
| |
Individual/ HUF |
Domestic Company |
NRI * |
| Dividend |
| Equity Schemes |
Nil |
Nil |
Nil |
| Debt Schemes |
Nil |
Nil |
Nil |
| Dividend Distribution Tax |
| Equity Schemes** |
Nil |
Nil |
Nil |
| Debt Schemes |
25% +10% Surcharge** + 3% Cess |
30% + 10% Surcharge** + 3% Cess |
25% +10% Surcharge** + 3% Cess |
| |
= 28.325% |
= 33.990% |
= 28.325% |
| Liquid and Money Market Schemes |
25% +10% Surcharge** + 3% Cess |
30% + 10% Surcharge** + 3% Cess |
25% +10% Surcharge** + 3% Cess |
| |
= 28.325% |
= 33.990% |
= 28.325% |
| Long Term Capital Gains |
|
Individual/ HUF$ |
Domestic Company@ |
NRI $/# |
| Equity Schemes** |
Nil |
Nil |
Nil |
| Debt Schemes |
10% without indexation or 20% with indexation whichever is lower |
10% without indexation or 20% with indexation whichever is lower |
10% without indexation or 20% with indexation whichever is lower |
| Short term Capital Gains |
| Equity Schemes** |
15% |
15% |
15% |
| Debt Schemes |
30%^ |
30% |
30%^ |
| |
0.309 |
0.32445 |
0.309
|
** Securities transaction tax (STT) will be deducted on equity funds at the time of redemption /switch to the other scheme /sale of units. Effective from June 1, 2013
$ surcharge at the rate of 10% is proposed to be levied in case of individual /HUF unit holders where their income exceeds Rs. 1. crore.
@- surcharge at the rate of 5% is proposed to be levied for domestic corporate unit holders where the income exceeds Rs .1 crore but is less than 10 crores and at the rate of 10% hwere the income exceeds 10 crores
# short /long term capital gains tax will be deducted at source at the time of redemption of units in case of NRI investors only. ,
## after providing for indexation.
^ assuming investor falls into the highest tax bracket. , education cess at 3% will continue to apply on tax plus surcharge
| Tax Deducted At Source |
| |
Short Term |
Long Term |
| Equity |
15.00% |
NIL |
| Debt |
30.00% |
20.00% |
Disclaimer
"The information set out above is included for general information purposes only & does not constitute legal or tax advice. In view of the individual nature of the tax consequences, each investor is advised to consult his or her own tax consultant with respect to specific tax implications arising out of their participation in the Scheme. Income Tax benefits to the mutual fund & to the unitholder is in accordance with the prevailing tax laws as certified by the mutual funds tax consultant. Any action taken by you on the basis of the information contained herein is your responsibility alone. Mirae Asset Mutual Fund will not be liable in any manner for the consequences of such action taken by you. The information contained herein is not intended as an offer or solicitation for the purchase and sales of any schemes of Mirae Asset Mutual Fund."