capital gain on mutual fund
This query is : Resolved
latika bhiva palav
(Querist)
06 July 2011
respected sir,
please guide me for calculation of capital gain on mutual fund.
please guide me for calculation of capital gain on mutual fund.
CA PARAS BAFNA
(Expert)
06 July 2011
First decide- whether the mutual fund in which the units are held, is an equity oriented fund. In such a case, LTCG will be exempt by virtue of Section 10(38) .
STCG tax Rate 15% (Section 111A).
*
LTCG on units held in Debt Oriented mutual funds will be taxable @ 20% however, indexation will be allowed.
STCG taxable at normal slab rates.
*
Long Term- means holding for a period of more than 12 months.
STCG tax Rate 15% (Section 111A).
*
LTCG on units held in Debt Oriented mutual funds will be taxable @ 20% however, indexation will be allowed.
STCG taxable at normal slab rates.
*
Long Term- means holding for a period of more than 12 months.
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