APPLICABILITITY OF SECTION 94, Income Tax

[S.C. WADHWA]

Dear Sir,

A company purchased mutual fund on which dividend received are reinvested daily/weekly. Now, I want to know whether provisions of Section 94(7) would be applied or be governed by provisions of Section 94(8).

Please clarify with an example how loss on sale of them will be dealt with.

In case of mutual fund on which dividend are reinvested on daily/weekly basis what would be record date for purpose of aforesaid sections.

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in this issue? If not please inform.