NISM 5B Mutual Fund Foundation Certification Exam Notes

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  • Equity-Oriented Funds: Hold over 65% in equity, taxed differently from non-equity.
  • Dividend Income: Taxed in the hands of investors, not funds.
  • Securities Transaction Tax (STT): Applies to equity fund redemptions, not purchases.
  • Stamp Duty: Levied on issue and transfer of mutual fund units.
  • ELSS Lock-In: Equity Linked Savings Schemes have a three-year lock-in.

NISM 5B Mutual Fund Foundation

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