Mutual funds Tax Reckoner { Tax Rates as per Finance Act 2011}

(a) In the case of a resident woman below the age of 60 years, the basic exemption limit is ` 190,000.
(b) In the case of a resident individual of the age of 60 years or more but less than 80 years, the basic exemption limit is ` 250,000.
(c) In the case of a resident individual of the age of 80 years or more, the basic exemption limit is ` 5,00,000.
(d) Education cess is applicable at the rate of 2% on income-tax and secondary and higher education cess at the rate of 1% on income-tax.

Disclaimer: The information set out in this document is for information purpose only & does not constitute any legal or tax advice. The investors are advised to consult their tax consultant to know the consequences of tax, if any. Income Tax benefits to the mutual fund & to the unitholder is in accordance with the prevailing tax laws as certified by the mutual
funds tax consultant. The investor shall be solely responsible for any action taken based on this document. this blog shall not be liable in any manner for the consequences of such action taken by the investor. 

Source: ICICI Prudential MF