Warren Buffett once whispered a secret into the world’s ear. “If you don’t find a way to make money while you sleep, you will work until you die…” Many have realized the importance of this secret and are focusing to build passive income. Today most of us are increasingly opting to mutual funds for creating a passive income and grow their savings.
But not many knows about Mutual fund taxation.
Here’s a nugget of wisdom for you.
Equity funds and non-equity funds, they’re not the same game. 🎲
Equity Funds, those invested 65% or more in equities, they come with a short-term capital gain tax if sold within a year. But hold them longer? You’re looking at long-term capital gain tax, albeit with a sweet exemption up to 1 lakh. 💼
Non-Equity Funds? Different story. Regardless of the holding period, On or before of 01.04.2023 your gains are added to your income and taxed accordingly. This isn’t just trivia. It’s the difference between a smart investment and a regrettable one.
Remember, it’s not about how much you make, it’s about how much you keep. 💰
Make the tax system work for you, not against you. 🎯
Remember, every penny saved is a penny earned. 💪
Stay informed. Stay ahead. 🚀
