Mutual funds sip
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 June 2014
how can we taxable income from mutual funds specially SIP (systematic Investment Plan ) . for ex. Rs 5000 invested per month for 5 years starts from 1.10.2012 and we sold on 31.3.2014( Months 18 ) i.e 18 * 5000 = 90000 and we received Rs 120000 then how much we have to pay tax for F.Y 2013-2014. ( period from 1.10.2012 to 31.3.2013 ) will be long term and rest will be short term.
Its really urgent and it will be great if anyone can reply me
Its really urgent and it will be great if anyone can reply me
11 June 2014
If the units allotted is sold before 12 months - it is short term capital gain but CG tax is to be paid.
If the units allotted is sold after 12 months- it is long term capital gain and no tax has to be paid as it is exempted.
If the units allotted is sold after 12 months- it is long term capital gain and no tax has to be paid as it is exempted.
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