Redemption of tax-free mutual funds
This query is : Resolved
ATUL BELEL
(Querist)
23 July 2014
SIR,
IS TAX-FREE MUTUAL FUNDS TAXABLE IN THE HANDS OF ASSESSEE AT THE TIME OF REDEMPTION OF SUCH MUTUAL FUNDS UNITS?
AWAITING FOR RESPONSE WITH APPROPRIATE SUPPORTING CLAUSE OR GUIDELINES OF INCOME TAX ACT, 1961.
IS TAX-FREE MUTUAL FUNDS TAXABLE IN THE HANDS OF ASSESSEE AT THE TIME OF REDEMPTION OF SUCH MUTUAL FUNDS UNITS?
AWAITING FOR RESPONSE WITH APPROPRIATE SUPPORTING CLAUSE OR GUIDELINES OF INCOME TAX ACT, 1961.
23 July 2014
if its equity oriented then its exempted..............
Nikhil Kaushik
(Expert)
26 July 2014
it shall be exempt if the scheme is equity oriented (please refer SID (scheme Information Document for the same) and you have held the units for a period exceeding 12 months.
otherwise it would be taxable.
otherwise it would be taxable.
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