Capital Gain Tax on Mutual Fund Redemptions for NRIs

Considering your status as an NRI, applicable tax on capital gains would have been deducted at the time of your redemption

For NRIs, mutual fund redemption proceeds are subject to tax deducted at source (TDS). If you withdraw from your MF within a year, you have to pay a TDS at the rate of 30% if it's a debt fund or a gold fund and 15% if it is an equity-oriented scheme.

But long-term capital gains on equity mutual funds are not taxed if held for over a year. Short-term gains are taxed at 15 percent plus cess. In case of debt mutual funds, both short-term and long-term capital gains are taxed.

Short-term capital gains (redeemed within 3 years) are added to the income and taxed as per the individual's income tax slab.

Long-term capital gains (redeemed after 3 years) are taxed as 10 percent without indexation and 20 percent with indexation (plus cess).

Considering your status as an NRI, the applicable tax on capital gains would have been deducted at the time of your redemption.

In case if the tax liability on your investment is less than the amount of tax deducted at source then you should file for an income tax refund.

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SBI Magnum Tax Gain Scheme 1993 Applcation Form

https://sites.google.com/site/mutualfundapplications/tax-saving-mutual-funds-elss Investment Details Basics Min Investment (Rs) 500 Subsequent Investment (Rs) 500 Min Withdrawal (Rs) -- Min Balance -- Pricing Method Forward Purchase Cut-off Time (hrs) 15 Redemption Cut-off Time (hrs) 15 Redemption Time (days) -- Lock-in 1095 days Cheque Writing -- Systematic Investment Plan SIP Yes Initial Investment (Rs) -- Additional Investment (Rs) 500 No of Cheques 12 Note Monthly investment of Rs 1000 for 6 months and quarterly investment of Rs 1500 for 4 quarters.

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IDFC Mutual Fund has announced dividend under the dividend option of IDFC Premier Equity Fund Direct-D . The quantum of dividend shall be R 4.3464 per unit. The record date has been fixed as May 06, 2015. Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. ICICI Prudential Tax Plan 2. Reliance Tax Saver (ELSS) Fund 3. HDFC TaxSaver 4. DSP BlackRock Tax Saver Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. Canara Robeco Equity Tax Saver 8. IDFC Tax Advantage (ELSS) Fund 9. Axis Tax Saver Fund 10. BNP Paribas Long Term Equity Fund You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds Invest in Tax Saver Mutual Funds Online - Invest Online Download Application Forms For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call --------------------------------------------- Leave your comment with mail ID and we will answer them OR You can write to us at PrajnaCapital [at] Gmail [dot]

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