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Eduncle posted an MCQ
October 13, 2019 • 22:10 pm 0 points
  • UGC NET
  • Commerce

Dividends declared by Unit Trust of India or by mutual fund is :

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    Eduncle Best Answer

    The dividend received in the case of shares, as well as income from the Unit Trust of India (UTI) or other mutual funds, is taxable under the head ‘income from other sources’. Any income arising from the transfer of a capital asset, being a unit of the Unit Scheme, 1964 referred to in Schedule I to the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 and where the transfer of such asset takes place on or after the 1st day of April, 2002 shall be fully exempted.

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