Mutual Fund Tax Rates for FY 2013-14

As per Finance Bill 2013, the DDT applicable for debt funds has increased from 12.5 per cent to 25 per cent for individuals and HUFs.

DDT applicable to any person other than an individual or HUF i.e. a firm, or a company, continues to be 30 per cent.

This new rate is applicable from June 1, 2013 on dividends declared on or after June 1, 2013.

Securities Transaction Tax has been reduced on equity schemes and exchange traded funds to 0.001 per cent for the financial year 2013-14 from June 1, 2013.

Refer this

http://mutual-funds-personalfin.blogspot.in/2013/07/securities-transaction-tax-stt-paid-on.html

Tax is deducted at source (TDS) when processing redemptions and switch outs for Non-Resident Indians (NRIs) only. There is no change in the existing TDS rates, but a new surcharge of 10 per cent has been introduced if the income exceeds Rs 1 crore for NRI investors.

New HDFC Mutual Fund Transaction Slip for Purchase, Switch and Redemption

http://www.hdfcfund.com/CMT/UPLOAD/ARTICLEATTACHMENTS/New_Transaction_Slip-7.6-color_240613.pdf

Merger of Reliance Natural Resources Fund into Reliance Vision Fund effective from September 7, 2013

As per the Addendum No 38 released by RMF on 31st Jul 2013, the units held in Reliance Natural Resources Fund (RNRF) have been merged into Reliance Vision Fund (RVF) with effect from September 7, 2013 based on the prevailing NAV of RVF as on the previous day i.e. September 6, 2013 equal to the value of the units held in RNRF.


http://reliancemutual.com/UPLOAD/ARTICLEATTACHMENTS/NoticeNo38RNRFRVF.pdf

Also future transactions related to Systematic Investment Plan (SIP) / Systematic Transfer Plan (STP) / Systematic Withdrawal Plan (SWP) or any other special products registered by you in Reliance Natural Resources Fund will be processed in Reliance Vision Fund on their respective due dates.

 Merger of Reliance Infrastructure Fund  into Reliance Diversified Power Sector Fund effective from September 7, 2013

 

As per the Addendum No 40 released by RMF on 31st Jul 2013, the units held in Reliance Infrastructure Fund (RIF) have been merged into Reliance Diversified Power Sector Fund (RDPSF) with effect from September 7, 2013 based on the prevailing NAV of RDPSF as on the previous day i.e. September 6, 2013 equal to the value of the units held in RIF. 

 

http://reliancemutual.com/UPLOAD/ARTICLEATTACHMENTS/MergerRationaleInfra%20Power1.pdf

http://reliancemutual.com/UPLOAD/ARTICLEATTACHMENTS/Addendum%2040%20-%20RIF%20into%20RDPSF.pdf