I didn’t make any withdrawals from my account or sell any investments this year. Do I owe taxes?

Potentially. You may owe taxes on any dividends you earn. Dividends are a company’s way of thanking you for investing with them. You get them simply for holding a stock or fund on a certain date. MFs automatically reinvest those for you, but you may still owe taxes on them.

Be sure to talk to your CA or a tax professional, or visit the Income Tax Department website (incometax.gov.in), to help determine which situation applies to you.