Capital gain tax on sale of mutual fund units (nri)
This query is : Resolved
K Suresh Kumar
(Querist)
15 March 2018
Dear Sir,
The investor is an NRI. There are multiple investment in the same MF in one scheme. The investments in MF have been redeemed within a year. There is gain on only one transaction and loss on other transactions at the time redemption (All units or entire investment amount). If we see overall there is a loss to the investor. But transaction level, there is short term capital gain for one transaction.
We have taxed @30% (Short Term Capital Gain Tax) on transaction where there is a gain.
The query is do we need to consider overall loss or gain / transaction level gain or loss
Thanks & Regards
Suresh
#9100497900
The investor is an NRI. There are multiple investment in the same MF in one scheme. The investments in MF have been redeemed within a year. There is gain on only one transaction and loss on other transactions at the time redemption (All units or entire investment amount). If we see overall there is a loss to the investor. But transaction level, there is short term capital gain for one transaction.
We have taxed @30% (Short Term Capital Gain Tax) on transaction where there is a gain.
The query is do we need to consider overall loss or gain / transaction level gain or loss
Thanks & Regards
Suresh
#9100497900
K Srinivas, CMA CS
(Expert)
16 March 2018
We need to calculate the overall short term capital transactions to arrive at STCG or STCL
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