Capital Gains
This query is : Resolved
22 July 2010
Whether capital gain is applicable in case of redemption of mutual funds and what will be the cost of acquisitions for the same
Aditya Maheshwari
(Expert)
22 July 2010
Cost would be the amount paid for purchasing the mutual fund.
If STT is paid on sale and the mutual fund is held for more than 1 year then the gain will be exempt u/s 10(38).
Otherwise the same will be taxable as STCGains or LTCG as the case may be
If STT is paid on sale and the mutual fund is held for more than 1 year then the gain will be exempt u/s 10(38).
Otherwise the same will be taxable as STCGains or LTCG as the case may be
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