Capital gains

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Praneetha (Querist)
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06 July 2015 Dear all,

please help me on this issue,
there is no adequate information available, but in 26AS mutual fund appears with deduction of TDS in it, what should that be considered as is it LTCG on sale of MF Units if so what are all the details i need to acquire to compute LTCG?

Reply me at the earliest
Thanks in Advance

Prof. Bajaj

Prof. Bajaj (Expert)
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07 July 2015 There is no TDS applicable for individual investors. Looks like there is some error in reading or making the 26AS.

LTCG on Equity MFs is tax free. So no question of TDS.

LTCG on non-equity MFs is taxed at 20% after indexation. But again, TDS isnt applicable.

To Compute LTCG, you need date of sale, date of purchase, rate of sale, rate of purchase and number of units sold.

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Soumitra Basu

Soumitra Basu (Expert)
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07 July 2015 IT MAY BE AN INVESTMENT IN MUTUAL FUND DURING THE YEAR IN EXCESS OF RS. 2.00 LACS.

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Praneetha

Praneetha (Querist)
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07 July 2015 Sir thank you so much for the reply,
i have gone through the 26AS 20% tax is deducted against the amount paid.
In 26As it is reflected as TDS deducted only, therefore shall it be considered as TDS

Praneetha

Praneetha (Querist)
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07 July 2015 Soumitra sir apart from LTCG ,as u said there is one more transaction reflected in 26AS in AIR transaction coloumn as it is purchase of 10Lakh Rs, can it be considered for 80C exemption?