Capital Gain on sale of units of Mutual Funds
This query is : Resolved
CA Mandar Joshi
(Querist)
07 June 2011
if the mutual fund OTHER THAN EQUITY ORIENTED MUTUAL FUND is sold, then how shall it be taxable to capital gains in terms of long term/ short term. What periodicity will be considered to take it as long term or otherwise.
is STT payable on such MFs?
if yes and if STT is not paid then what is the treatment?
Please let me know ASAP
is STT payable on such MFs?
if yes and if STT is not paid then what is the treatment?
Please let me know ASAP
CA PARAS BAFNA
(Expert)
13 June 2011
Units of mutual fund are long term when held for more than 12 months.
As I know STT is applicable in the case of Equity Oriented Mutual Fund Units only.
In case of long term investment indexation is allowed.
As I know STT is applicable in the case of Equity Oriented Mutual Fund Units only.
In case of long term investment indexation is allowed.
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