Monday, April 10, 2017

Taxation of income of investment funds

Direct Tax Lessons

Taxation of income of investment funds/unit holders sec 115 UB

Income of Investment Fund

Income from PGBP
  1. For Investment Fund: Taxable (Rates as per Annual finance Act)
  2. For Unit Holders: Exempt
Income other than PGBP
  1. For Investment Fund: Exempt. TDS has to deduct @ 10% when payment made to unit holders
  2. For Unit Holders: Taxable as if unit holder had directly made the investment. Income to be divided prorate to the unit holders.
Loss: Cannot distribute to unit holders. Investment fund can set off and carry forward the loss.

Dividend Distribution Tax: Not applicable when income distribute to unit holders. Investment fund need not pay DDT

Meaning of Investment Fund: 
  • Any fund established or incorporated in india in the form of a trust or a company or a limited liability partnership or a body corporate which has been under SEBI as category I or II Alternative Investment fund regulations under SEBI Act.

CA N.Rajasekhar [M.Com, FCA, DISA (ICAI)]


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