capital gain on mutual fund

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latika bhiva palav

latika bhiva palav (Querist)
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06 July 2011 respected sir,
please guide me for calculation of capital gain on mutual fund.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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).
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LTCG on units held in Debt Oriented mutual funds will be taxable @ 20% however, indexation will be allowed.

STCG taxable at normal slab rates.
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Long Term- means holding for a period of more than 12 months.

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