Capital gain/ loss
This query is : Resolved
15 July 2012
If i sold mutual fund of UTI on 03.10.2011 for a sum of Rs.14726 purchased on 24.06.1999 for Rs.10000. Pls tell me how much LTCG will be required to be paid by me as per A.Y.-2012-13.
Is there is any exemption of Interest earned on SB A/c or the whole amt is subject to tax?
Is there is any exemption of Interest earned on SB A/c or the whole amt is subject to tax?
15 July 2012
The units of UTI are considered as Long Term Capital Asset. Long Term Capital Gains arising on such units is exempt U/s 10(38).
.
For Ay 2012-13, SB A/c Interest is taxable.
.
From AY 2013-14 SB A/c Interest is Deductible U/s 80TTA upto Rs. 10000/-
.
.
For Ay 2012-13, SB A/c Interest is taxable.
.
From AY 2013-14 SB A/c Interest is Deductible U/s 80TTA upto Rs. 10000/-
.
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