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This query is : Resolved 

We know LTCG tax is levied on gains beyond one lakh rupees in case of redemption of mutual funds. For this, the gain is calculated for each fund separately as its investment, NAV s and start and end dates are different. My query is whether the one lakh limit per year is for each fund or the total gain on all the funds in a year. Please clarify.

Exemption from tax up to Rs 1 lakh is for a financial year whether from one fund or more than one.

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