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Redumption of Mutual Fund

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(Querist)
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
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
07 July 2008 Yes, capital gain earned is liable for Income Tax.
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CA Rajesh S

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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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