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sec 80 c

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(Querist)
23 September 2009 suppose ram pur. mutual fund for rs. 10000 in may 08 and claim deduction in 80c in a.y.09-10 and submitt the return in july.09
and now he sold the fund and receive 12000 in sep.09 . Is the ded. of 80c has to be withdrawn and what is the tax treatment for the gain of rs. 10000


Is it would be exempt as LTCG u/s 10(38)
or taxable @20 %.



please reply if anyone has the answer
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VINEESH KHANNA

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VINEESH KHANNA (Expert)
23 September 2009 There is no need to get the deduction withdrawn for the assessment year 2009-10.

It shall be taxable @ 20%
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
23 September 2009 It shall not be taxable provided STT paid by mutual fund on REDEMPTION.
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