Capital Gain on Sale of MF (SIP)
This query is : Resolved
Pranav Bembi
(Querist)
23 July 2011
i want to know that how will i charge the capital gain on redemption of MF units .
Since i have a systematic investment plan hence all MF units are acquired on different intervals and at different rates.
It is not possible to calculate profit and sale on each lot purchased in each month and then file the return accordingly...
can i take the average of the cost ???
and i have incurred a loss on such units since the NAV went down.
Since i have a systematic investment plan hence all MF units are acquired on different intervals and at different rates.
It is not possible to calculate profit and sale on each lot purchased in each month and then file the return accordingly...
can i take the average of the cost ???
and i have incurred a loss on such units since the NAV went down.
CA PARAS BAFNA
(Expert)
23 July 2011
You may adopt the following manner of calculation which will save the time of yours as well as most of our CCI members-
1. SIP investment made prior to 1 year is generating LTCG/LTCL.
Periodical details not required in the return or ITR.
2. SIP investment made within 1 year from sale is generating STCL in your case.
Periodical details not required in the return or ITR when there is STCL.
Take Sales Consideration in respect of units purchased during 1 year and subtract the 1 year SIP amount from it.
1. SIP investment made prior to 1 year is generating LTCG/LTCL.
Periodical details not required in the return or ITR.
2. SIP investment made within 1 year from sale is generating STCL in your case.
Periodical details not required in the return or ITR when there is STCL.
Take Sales Consideration in respect of units purchased during 1 year and subtract the 1 year SIP amount from it.
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