Redemption of MF
This query is : Resolved
Ravi Kumar Rajgaria
(Querist)
19 May 2008
Profit from sale of Floating Rate Mutual Fund(Safe Fund) will be treated interest or Short term gain?
S.Srinivasaraghavan
(Expert)
20 May 2008
Are you talking about the units?
Ravi Kumar Rajgaria
(Querist)
20 May 2008
Yes. I purchased units of Pru. ICICI Floating rate fund.I have a income on sale of these units. In which head this income will be taxable?
S.Srinivasaraghavan
(Expert)
20 May 2008
The income sale of units is treated as capital gain
Ravi Kumar Rajgaria
(Querist)
20 May 2008
I think treatment of Gain will be then when there is a chance of loss also but investment in floating mutual fund always redeemed with more value then invested. So are u sure?
S.Srinivasaraghavan
(Expert)
21 May 2008
It does not matter.
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