i want help,
i want to know the consequences on sale of mutual fund above 12month and less than 12 month,
and what if the ppf is redemed what to do
CA Karan Lodhi
(CA and B.com(hons.))
(879 Points)
Replied 28 July 2014
If Units of Mutual fund are sold after 12 months whether to Mutual fund company or through recognised stock exchange provided STT is paid on such sale transaction then the said gain (income) will be exempt under section 10 but if those units are sold before 12 months then STCG will arise on such transaction and rate of tax shall be 15% under section 111A.
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 29 July 2014
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