Sec 10(23d) income from mutual funds

This query is : Resolved

CA Raman Goel (Querist)
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30 August 2012 Whether short term capital gain arise from sale of mutual funds exempt u/s 10(23d)(ignore nature or types of mutual funds)if not, then what are the incomes arising from mutual funds which are exempt under this sec [10(23d)]

And if it is long term capital then under which sec it is exempt.[sec 10(23d),10(38),10(36)]

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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31 August 2012 1. U/s 10(23D) income of the MUTUAL FUND is exempt.

Income earned by an investor is NOT exempt u/s 10(23D).

2. STCG is taxable.

3. LTCG on redemption of units of an equity oriented mutual fund is exempt u/s 10(38).

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