How are Gains & Dividends from Mutual Funds & Stocks taxed?

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How are Gains & Dividends from Mutual Funds & Stocks taxed?

Test your knowledge on Capital Gains

Which are Equity Mutual Funds *

1 point

Those with More than 50% in stocks (both domestic, international)

Those with More than 65% in stocks -domestic

Those with more than 0% in domestic stocks

Does not invest in debt instruments like Govt securities

When is TDS deducted on Dividend from a company or a mutual fund(after 1 April 2020)

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if dividend is more than Rs 5,000

if dividend is more than Rs 10,000

No TDS is deducted

if dividend is more than Rs 2,000

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Gives these incomes for the year, what are how much is my total income?Salary – Rs.10,00,000, Short term capital gains from delivery-based equity – Rs. 100,000, Profits from F&O trading – Rs.100,000 ,Intraday equity trading – Rs. 100,000

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Rs.10,00,000+100,000 (F&O trading) + Rs.100,000 (Intraday)+100,000(STCG)

Rs.10,00,000(salary )+100,000 (F&O trading) + Rs.100,000 (Intraday)+15,000(STCG @15% on 1lk)

Rs.10,00,000+100,000 (F&O trading) + Rs.100,000 (Intraday)

Rs.10,00,000

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How does one earn from Shares

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Dividends

Capital Gains

Dividends + Capital Gains

You don't earn anything

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Selling shares or Equity Mutual funds and buying later to avail tax-free LTCG benefit of 1 lakh is called as

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Tax-harvesting

Grand fathering

Long Term Capital Gains

Tax

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Option 1

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Tarak bought debt mutual fund for Rs 2.5 lakh in Apr 2018 and sold it for Rs 2.75 lakh in Dec 2019. What kind of Capital Gain he has

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Short Term capital gain

Long term capital gain

No Gain

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Saavan bought gold mutual fund in Feb 2020 for Rs 1 lakhs. CII of which year does he have to use

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CII of FY 2020-21

CII of FY 2019-20

No CII to be used

Not sure

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Vikas is a salaried employee. In the month of September 2017, he got shares of ABC ltd a MNC listed on NASDAQ and sold the same in May 2019. What kind of Capital Gain does Vikas have? *

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Short term capital gains

Long term capital gains

Not sure

Long Term Capital Gain with indexation and 20% tax

Janak is a salaried employee. In January 2015 he purchased 100 shares of X Ltd. @ Rs. 1,400 per share from Bombay Stock Exchange. These shares were sold through NSE in April 2020 @ Rs. 2,600 per share. The highest price of X Ltd. shares quoted on the stock exchange on January 31, 2018, was Rs. 1,800 per share. What will be the nature of capital gain in this case?

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Short Term Capital Gain

Long Term Capital Gain

Long Term Capital Gain with Grandfathering

No tax

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If Shyam purchased the debt mutual funds in FY 2005-06 at Rs 80 lakh when CII is 117 and sold the same in FY 2019-20 at Rs. 1.5 Cr when CII is 289. What is the formula to find new indexed Sale Price

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80,00,000*(289/117)

1,50,00,000*(289/117)

Sale price is not indexed but purchase price is

No CII is used

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