For mutual fund purpose

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 November 2014 IF I HAVE SOLD THE MUTUAL FUNDS UNIT IN HALF AND THE BALANCE IS REMAINING IN MY ACCOUNTS SO WHAT WOULD THE ACCOUNT TREATMENT FOR SOLD UNIT AND GAIN ARISE ON THIS AND WHAT IS THE EFFECTS AS PER INCOME TAX PURPOSE.

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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28 November 2014 You have to calculate capital gain for each unit sold on FIFO basis. There may be some long or some short gain/loses

Further in case of Equity Oriented Mutual fund no tax required to paid in Long term Capital gain u/s 10(38) in case of short term only 15% required to be paid u/s 111A

Rupesh Jain

Rupesh Jain (Expert)
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29 November 2014 you have gain then on sold unit you have to pay tax capital gain
as mention by mr kumar mukesh.

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