MUTUAL FUND PAYMENT DEDUCITBLE ??
This query is : Resolved
21 July 2010
MR. A INVESTED RS.25000 IN MUTUAL FUND
MUTUAL FUND > LIABLE TO STT
> MORE THAN 45% EQUITY
> DEDUCTIBLE 10(38)LONG TERM
IS RS.25000 DEDUCTIBLE UNDER 80 C ??
MR. A INVESTED RS.25000 IN MUTUAL FUND
MUTUAL FUND > LIABLE TO STT
> MORE THAN 45% EQUITY
> DEDUCTIBLE 10(38)LONG TERM
IS RS.25000 DEDUCTIBLE UNDER 80 C ??
Nirpendra Singh
(Expert)
21 July 2010
No ,
As per section 10(38) its required to be a euity oriented mutual fund (means where entity invest 65% of its receipts in Equity ).
Here the total investment is restricted to 45% only .
therefore irrespective of STT payment transaction is chargeable to tax(LTCG).
Yes here deduction u/s 80C is available.
As per section 10(38) its required to be a euity oriented mutual fund (means where entity invest 65% of its receipts in Equity ).
Here the total investment is restricted to 45% only .
therefore irrespective of STT payment transaction is chargeable to tax(LTCG).
Yes here deduction u/s 80C is available.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
