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TDS on MF dividends at 10%, clarifies government

TDS on MF dividends at 10%, clarifies government

Wednesday, February 5, 2020, 8:08 AM

The tax department on Tuesday clarified that the Budget proposal of 10 per cent TDS will be applicable only on dividend payment by mutual funds and not on gain arising out of redemption of units. Finance Minister Nirmala Sitharaman had in Budget 2020-21 scrapped dividend distribution tax (DDT) paid by companies and mutual funds on dividend paid to shareholders or unit holders.
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