Mutual Fund Withdrawn before 1 Yr
This query is : Resolved
23 October 2008
If an Assesee invested X amount in Mutual fund eligable for 80C & claimed Tax benefit in that year. But if an Assesee withdraw that Mutual fund within 1yr or After 1 yrs. Thent what will be Tax implication for that.
23 October 2008
You cannot withdraw/ redeem from the fund if it was invested under ELSS / MF qualified under 80C
23 October 2008
Not Possible
23 October 2008
If an Assesee invested X amount in Mutual fund eligable for 80C & claimed Tax benefit in that year. But if an Assesee withdraw that Mutual fund After 1 yrs. Thent what will be Tax implication for that
1) Wheather the whole amount(i.e. Principal+ Income) will be taxable or only Income part ?
1) Wheather the whole amount(i.e. Principal+ Income) will be taxable or only Income part ?
24 October 2008
You cannot redeem / withdraw from the fund. Hence the question of taxation does not arise.
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