short and long term capital gain
This query is : Resolved
07 July 2010
i have 10000 profit from mutual fund as shortterm gain and 20000 as longterm capital gain.also i have 350000 from share business.where i have to show incomr from mutual fund in incometax form.please advise me
09 July 2010
Profit on sale of units of Mutual fund will be taxable under the head CAPITAL GAIN.
and Rs. 3,50,000 will be exempt if it is from Long Term Capital Assets, otherwise would be taxable u/s 115A @ 15%.
Regards!!!
and Rs. 3,50,000 will be exempt if it is from Long Term Capital Assets, otherwise would be taxable u/s 115A @ 15%.
Regards!!!
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