Doubt on capital gain of mutual funds??
This query is : Open
10 April 2015
In the high lights of BUDGET 2014-15
i noticed the following point..
** Long term capial gain tax for mutual funds doubled to 20 pc; lock-in period increased to 3 years..
What does that mean?? i didnt get clarity on that point..
Thanku you...
i noticed the following point..
** Long term capial gain tax for mutual funds doubled to 20 pc; lock-in period increased to 3 years..
What does that mean?? i didnt get clarity on that point..
Thanku you...
10 April 2015
1. Doubling of tax on LTCG of Mutual Fund- earlier, the tax rate on LTCG was 10% on shares and securities. Now, the tax rate doubled to 20%.
2. Lock-in-period means you that there is restriction in transferability/ sale of the Mutual Fund for a period of 3 years.
Note: The definition of Long-term capital asset in case of shares/mutual funds etc., period of holding changed from 12 months to 36 months.
2. Lock-in-period means you that there is restriction in transferability/ sale of the Mutual Fund for a period of 3 years.
Note: The definition of Long-term capital asset in case of shares/mutual funds etc., period of holding changed from 12 months to 36 months.
10 April 2015
Thank You CA JOHN Sir..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
