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Redemption of MF

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(Querist)
19 May 2008 Profit from sale of Floating Rate Mutual Fund(Safe Fund) will be treated interest or Short term gain?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
20 May 2008 Are you talking about the units?
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Ravi Kumar Rajgaria

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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?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
20 May 2008 The income sale of units is treated as capital gain
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Ravi Kumar Rajgaria

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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?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
21 May 2008 It does not matter.
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