Capital gains
This query is : Resolved
06 July 2015
Dear all,
please help me on this issue,
there is no adequate information available, but in 26AS mutual fund appears with deduction of TDS in it, what should that be considered as is it LTCG on sale of MF Units if so what are all the details i need to acquire to compute LTCG?
Reply me at the earliest
Thanks in Advance
please help me on this issue,
there is no adequate information available, but in 26AS mutual fund appears with deduction of TDS in it, what should that be considered as is it LTCG on sale of MF Units if so what are all the details i need to acquire to compute LTCG?
Reply me at the earliest
Thanks in Advance
Prof. Bajaj
(Expert)
07 July 2015
There is no TDS applicable for individual investors. Looks like there is some error in reading or making the 26AS.
LTCG on Equity MFs is tax free. So no question of TDS.
LTCG on non-equity MFs is taxed at 20% after indexation. But again, TDS isnt applicable.
To Compute LTCG, you need date of sale, date of purchase, rate of sale, rate of purchase and number of units sold.
LTCG on Equity MFs is tax free. So no question of TDS.
LTCG on non-equity MFs is taxed at 20% after indexation. But again, TDS isnt applicable.
To Compute LTCG, you need date of sale, date of purchase, rate of sale, rate of purchase and number of units sold.
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Soumitra Basu
(Expert)
07 July 2015
IT MAY BE AN INVESTMENT IN MUTUAL FUND DURING THE YEAR IN EXCESS OF RS. 2.00 LACS.
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07 July 2015
Sir thank you so much for the reply,
i have gone through the 26AS 20% tax is deducted against the amount paid.
In 26As it is reflected as TDS deducted only, therefore shall it be considered as TDS
i have gone through the 26AS 20% tax is deducted against the amount paid.
In 26As it is reflected as TDS deducted only, therefore shall it be considered as TDS
07 July 2015
Soumitra sir apart from LTCG ,as u said there is one more transaction reflected in 26AS in AIR transaction coloumn as it is purchase of 10Lakh Rs, can it be considered for 80C exemption?
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