Capital Gains on Liquid Funds
This query is : Resolved
28 July 2010
Sir,
How to compute capital gains of Liquid mutual funds.? For eg: Amount invested on 1-4-09 in Liquid fund is 20 Lacs and in 30-10-09 is 8 lacs. Dividend accruing(daily)from these funds are again reinvested in those fund.Amount redeemed on 15-11-09 is 10 Lacs and on 10-2-10 is 11 lacs. And the remaining amount in the fund redeemed in the next year say,30-4-2010. How to Compute capital gains from these transactions.? What is the tax implication for the dividend accruing from the funds? Shall it be treated as income for this year? Waiting for the reply
How to compute capital gains of Liquid mutual funds.? For eg: Amount invested on 1-4-09 in Liquid fund is 20 Lacs and in 30-10-09 is 8 lacs. Dividend accruing(daily)from these funds are again reinvested in those fund.Amount redeemed on 15-11-09 is 10 Lacs and on 10-2-10 is 11 lacs. And the remaining amount in the fund redeemed in the next year say,30-4-2010. How to Compute capital gains from these transactions.? What is the tax implication for the dividend accruing from the funds? Shall it be treated as income for this year? Waiting for the reply
28 July 2010
Dividend received will be exempted.Any Profit and loss will be treated as long term/short term depends on the holding period. Holding period will be counted from the date of investment/date of dividend re-invested to the date of sale. If it is more than a year, profit will be long term otherwise short term
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