Deduction on mutual funds

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This discussion addresses a query about tax deductions for mutual fund and stock investments exceeding Rs. 1,50,000. While these specific investments may not directly offer deductions, the user is seeking clarification on where they might be eligible for tax benefits. The response clarifies that while direct deductions aren't applicable, capital gains from these investments are taxed at 15% for short-term and 10% for long-term, with an initial tax-free threshold of Rs. 1 lakh for long-term gains.

bhavani P

bhavani P (Querist)

26 December 2021 Dear Sir/madam,
i"m investing in Mutual Funds and stocks every year. My deductions has exceed Rs.1,50,000. without taking these consideration. where i can get deductions on that two investments. Please answer me.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

26 December 2021 No deduction allowed on these investments.
Whereas short term capital gains on such investment taxed at 15% and long term capital gains taxed at 10% with no tax upto 1 lac.

bhavani P

bhavani P (Querist)

28 December 2021 Thank you for the reply sir.

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