Redumption of Mutual Fund
This query is : Resolved
06 July 2008
If an assessee made an investment in Mutual Fund of 1 cr n later on he withdraws money from Mutual fund in part as he requires say 20L 50L then that withdrawal are liable for Capital Gain Tax
07 July 2008
Yes, capital gain earned is liable for Income Tax.
CA Rajesh S
(Expert)
07 July 2008
u r right, u will have to calculate the diff b/w redumption value and the cost and the same will be either short term or long term cap gain depending upon the period of holding
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