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Tax Reckoner 201213

Sameer 9891198999 sameer@sakshamgroup.com

SAKSHAM
Saksham Wealth Solutions P. Limited

Snapshot of Ta rates specific to M t al F nds Tax Mutual Funds


The rates are applicable for financial year 201213 and are subject to enactment of the Finance Bill,2012 TAX IMPLICATIONS ON DIVIDEND RECEIVED BY UNIHOLDERS
Individual/HUF Dividend Equity oriented schemes Debt oriented schemes Nil Nil Nil Nil Nil Nil Domestic Company
Effective from April 1, 2012

NRI*

Tax on distributed income (payable by the scheme) rates

Equity oriented schemes ** Debt schemes Money market and Liquid schemes

Nil 12.5%+5% Surcharge + 3% Cess =13.519% 25%+5% Surcharge + 3% Cess =27.038%

Nil 30%+5% Surcharge + 3% Cess =32.445% 30%+5% Surcharge + 3% Cess =32.445%

Nil 12.5%+5% Surcharge + 3% Cess =13.519% 25%+5% Surcharge + 3% Cess =27.038%

Capital Gains Taxation


Long Term Capital Gains(units held for more than 12 months)

Equity oriented schemes ** Other than equity oriented schemes

Without indexation With indexation

Nil 10% without indexation or 20% 10% without indexation or 20with with indexation whichever is lower indexation whichever is lower 3% + 5% Surcharge# + 3% Cess +3% Cess =10.300% =10.815% =20.600% =21.63% Short Term Capital Gains (units held for 12 months or less)

Nil

Nil 10% without indexation or 20% with indexation whichever is lower +3% Cess 3% =10.300% =20.600%

Equity oriented schemes** Other than equity oriented schemes

15% + 3% Cess =15.450% =15 450%

15% + 5% Surcharge# + 3% Cess =16.223% =16 223%

15% + 3% Cess =15.450% =15 450%

30%^ + 3% Cess 30% + 5% Surcharge# +3 % Cess 30%^ + 3% Cess =30.900% =32.445% =30.900% # In case of domestic company surcharge of @ 5% shall be levied if the total income exceeds Rs 1 Crore subject to marginal relief. *The short term/long term capital gain tax will be deducted at the time of redemption of units in case of NRI investors only. **Securities transaction tax(STT) will be deducted on equity funds at the time of redemption and switch to the other schemes. ^Assuming the investor falls into highest tax bracket.

Tax Deducted at Source(Applicable only to NRI Investors) Short term capital gains 15.450% 30.900% Long term capital gains NIL 20.600%#
#after providing for indexation

Equity oriented schemes Other than equity oriented schemes

Income Tax Rates

For Individuals, Hindu Undivided Family, Association of Persons, Body of Individuals and Artificial juridical persons Total Income Up to Rs 200000 Rs 200001 to Rs 500000 s 0000 s Rs 500001 to Rs 1000000 Rs 1000001 1. 2. 3. 4. 4 5. 2 Tax Rates Nil 10% 0% 20% 30%

Tax on non resident sportsmen or sports association on specified income @10% plus surcharge and education cess.

Capital Gains
Particulars Sale of transactions of equity shares/unit of an equity oriented fund which attract STT Sale transactions other than mentioned above: ( Individuals(resident and nonresident) Partnerships (resident and non resident) Resident Companies Shortterm capital gains tax rates(a) 15% Longterm capital gains tax rates(a) Nil

In the case of resident individual of the age of 60 years or above but below 80 years, the basic exemption limit is Rs 250000. In case of resident individual of age of age 80 years or above the basic exemption limit is Rs 500000 Surcharge is not applicable Education cess is applicable @3% on income tax Marginal relief may be available. Securities Transactions Tax (STT) Rates 0.1% Payable By Purchaser/ Seller 0.025% Seller

Progressive slab rates 30%

20% with indexation;10% without indexation (for units/zero coupon bonds) 10%

Transaction Purchase/Sale of equity shares,units of equity oriented mutual fund(delivery based)@ Sale of equity shares,units of equity oriented mutual fund(non-delivery based) Sale of an option in securities Sale of an option in securities,where option is exercised Sale of a futures in securities Sale of unit of an equity oriented fund to the Mutual Fund 3 1.

0.017% 0.125%

Seller Purchaser

0.017% 0.25%

Seller Seller

30% 40%(corporat Overseas financial e) organisations specified in 30%(non section 115AB corporate) FIIs 30% Other Foreign companies 40% Local authority 30% Progressive Cooperative society slab rates

10% 20%/10% 10% without indexation(for units/ others)

Personal Tax Scenarios Amount in Rupees) Personal Tax Scenarios((Amount in Rupees)


Individual 500000 Tax in FY201112 Tax in FY201213 Effective Tax Savings 32960 30900 2060 Income Level 1000000 1500000 156560 133900 22660 311060 288400 22060

Special rates for non-residents The followings incomes in the case of nonresident are taxed at special rates on gross basis: Rate(a) 20% 20%

Nature of Income Dividend Interest received on loans given in g foreign currency to India concern or Government of India Income received in respect of Units purchased in foreign currency of specifies Mutual Funds/UTI Royalty or fees for technical services

20%

Effective Tax Savings 6.25% 14.47% 7.28% Resident senior citizen Income Level l (age of 60 years but below 80 years) 500000 1000000 1500000 Tax in FY 201112 25750 149350 303850 Tax in FY201213 25750 128750 283250 Effective Tax Savings Nil 20600 20600 Effective Tax Savings N.A 13.79% 6.78% Resident women below Income Level 500000 1000000 1500000 31930 30900 1030 155530 133900 21630 310030 288400 21630

For Agreements entered into: -After 31 May 1997 but before 1 June 2005-@20% -After 1 June 2005-10%

60 years Tax in FY 201112 Tax in FY201213 Effective Tax Savings

Interest income from a notified infrastructure debt fund Interest on FCCB,FCEB/ FCCB FCEB/ Dividend on GDRs(b) a) b) c)

5% 10%

Effective Tax Savings 3.26% 13.91% 6.98% Resident very senior citizen Income Level at the age of 80 years and above 500000 1000000 1500000 Tax in FY 201112 Tax in FY201213 Effective Tax Savings Effective Tax Savings Nil Nil Nil N.A 123600 103000 20600 16.67% 278100 257500 20600 7.41%

These rates will further increase by surcharge and education cess. Other than dividends on which DDT has been paid. In case the nonresident has a permanent establishment (PE) in India and the royalty/fees for technical services paid is effectively connected with such,the same could be taxed at 40%(plus surcharge and education cess) on net basis.