Investment in reliance savings -dept plan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 November 2013 sir
i invested in reliance regular savings fund -dept plan -Growth plan growth option (SD-GP)ISIN Rs 650000 on 30/04/2012 and got redeemed on 13/11/2013 Rs 737876.52
1) whether this plan is taxable,if yes
then
2)whether it is long term or short term and what will be capital gain ?
3)where to invest save tax and how tax can be saved?

Querist : Anonymous

Querist : Anonymous (Querist)

19 November 2013 sir i invested in reliance regular savings fund -dept plan -Growth plan growth option (SD-GP)ISIN Rs 650000 on 30/04/2012 and got redeemed on 13/11/2013 Rs 737876.52 1) whether this plan is taxable,if yes then 2)whether it is long term or short term and what will be capital gain ? 3)where to invest save tax and how tax can be saved?
4)what will be accounting treatment?

CA JATIN TALREJA

CA JATIN TALREJA (Expert)
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20 November 2013 I case of debt oriented mutual fund the capital appreciation is taxable as Long term capital gains if the maturity date is after 1 year .Now since in your case the maturity is on 13/11/2013 you can avail the benefit of double indexation in this case.Set of with some other longterm capital loss, after indexation tax is payable at flat rate 20%

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