Doubt on capital gain of mutual funds??
This query is : Open
Rekha Sai Teja
(Querist)
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.
Rekha Sai Teja
(Querist)
10 April 2015
Thank You CA JOHN Sir..
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