Capital Gain Mutual Fund
This query is : Resolved
26 January 2020
Can any tell me capital gain on redemption of mutual fund calculated on Average cost basis or FIFO basis
26 January 2020
FIFO basis
26 January 2020
thank for ur reply but sir if any ony one apply avg cost in that case is it correct if yes than why
26 January 2020
What is VG Cost?
If you refer capital Gain than MF is taxable as Short term if it is hold for less than 12 months
So for Bifurcation you have to calculate Short term profit & long term profit separately
If you refer capital Gain than MF is taxable as Short term if it is hold for less than 12 months
So for Bifurcation you have to calculate Short term profit & long term profit separately
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27 January 2020
It can only be calculated on FIFO basis. Avg cost even if you apply is incorrect and if offered for tax will lead to misreporting/under reporting of income and can lead to penalty if scrutinised.
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