11 August 2012
We need to understand how exit load works. Exit load of 1% is charged on the redemption value and as a result the redemption value will become 99% of original redemption value.
So, your purchase price = 40.49 * 123.487 =Rs.4999
Your redemption price = 43.25 (100%-1%) * 123.487 = Rs.5287.40
Thanks. But STT is also cut on it & my gain reduced to 274 Rs. I got it sir. Can you answer 1 more question I purchased it 3 months before, do I have to pay STCG @ 15%, if my income do not exceed minimum taxable limit.
11 August 2012
Yes, the Securities transaction tax of 0.125% must be paid whenever you buy or sell a MF investment.
we need to add STT to the purchase price and deduct STT from the Selling price. When we consider this i believe you can arrive at Rs.274.
Purchase price becomes Rs.40.54 per unit after you add the STT at 1% to the purchase price. Selling price after exit load is Rs.42.8175 and after you DEDUCT stt from the selling price, you will get Rs.42.76 per unit.
Net payoff = 123.487*(42.76-40.54) which is around Rs.274
CAclubindia
