Business TDS trouble: How the new tax on mutual funds affects small investors Updated : February 21, 2020 11:02 PM IST Those who do not file returns will be at a disadvantage if they do not know how to do it. Currently, TDS on capital gains is deducted only for NRI investors in mutual funds and not for resident Indians. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.