Joint mutual fund and income tax

In case of a joint mutual fund investment, the primary (first holder) is liable to comply with the income-tax laws. Any income from such an investment is also taxed in the hands of the first holder. Further note that gains from mutual funds are taxed only when they are realised, that is, in the year in which the investment in mutual funds is sold or redeemed. There is no tax o

This article was originally published on April 01, 2022.