No. The losses have to be managed by you. You cannot claim any tax benefits on them.
One disadvantage of mutual fund investing is that mutual funds are not tailored to the specific investment needs or tax status of individual shareholders
Yes, mutual funds are subject to taxes, and investors typically owe taxes on capital gains distributions and dividends received. Additionally, when investors sell their shares in a mutual fund for a profit, they may incur capital gains taxes. The tax implications can vary based on the investor's tax bracket and the type of mutual fund, such as taxable versus tax-exempt funds. It's important for investors to consider these factors when evaluating mutual fund investments.
To cash out your mutual fund to buy a house, you can contact your mutual fund company and request a redemption of your investment. This will allow you to receive the cash value of your mutual fund, which you can then use towards purchasing a house. Keep in mind that there may be tax implications and fees associated with redeeming your mutual fund, so it's important to consider these factors before proceeding.
Losses incurred from the sale of a second home are generally not tax-deductible for personal use properties. However, if the second home was used for rental or business purposes, the losses may be deductible as a business or investment expense. It is recommended to consult with a tax professional for specific advice on your situation.
Mortgage endowments themselves are not tax-deductible. However, the interest paid on the mortgage used to fund the endowment may be deductible, depending on various factors, including the purpose of the loan and the taxpayer's situation. It's important to consult a tax professional for specific advice related to individual circumstances.
diviend on sahre and mutual fund is fullt TAX FREE.And loss on sale of mutual fund can set-off from last year gains and carry-forward for the next 7 years.....
Is not always a true statement
One disadvantage of mutual fund investing is that mutual funds are not tailored to the specific investment needs or tax status of individual shareholders
Yes you are taxed when withdrawing money from a mutual fund. Your current tax rate would apply.
To cash out your mutual fund to buy a house, you can contact your mutual fund company and request a redemption of your investment. This will allow you to receive the cash value of your mutual fund, which you can then use towards purchasing a house. Keep in mind that there may be tax implications and fees associated with redeeming your mutual fund, so it's important to consider these factors before proceeding.
Losses incurred from the sale of a second home are generally not tax-deductible for personal use properties. However, if the second home was used for rental or business purposes, the losses may be deductible as a business or investment expense. It is recommended to consult with a tax professional for specific advice on your situation.
Nope. HDFC Top 200 is a Equity Diversified Mutual Fund. Only ELSS Funds have income tax benefits. ELSS stands for Equity Linked Savings Scheme
: Hi there! In order to save tax on the mutual fund schemes, you can invest in equity linked saving schemes under tax save law section 80C. However, equity linked saving schemes are diversified schemes wherein you can invest in equity related instruments, having a locking a period of about 3 years. For your reference, I have listed some of the good financial institution that offers best tax saving schemes. They are as follows: Top 5 tax Saving Mutual Fund based on lat 1 year returnsSBI Magnum Tax PlanReliance Mutual Fund - ELS - Fund Series 1Sundaram BNP Paribas Tax SaverFranklin India Tax ShieldPrudential ICICI Tax PlanI hope the above information might be useful for you.
There are a number of potential advantages of having an ESOP stock. There are tax benefits in that stocks are tax deductible and employees pay no tax on contributions they make to the fund.
This depends on which state plan you have signed up for. You can open a plan in a different state to take advantage of a greater selection of mutual funds, however contribution to out of state plans are not tax deductible. Contributions to a 529 plan may be tax deductible at a state level. Rules vary depending on the state.
No, donating blood is not tax deductible.
The benefit to a ROTH IRA tax deductible is that it is TAX DEDUCTIBLE. But that does not mean that there are no implications, so you still have to be thorough.