Short term capital gains
This query is : Resolved
Shailesh V
(Querist)
09 June 2014
If i redeem part of my principle amount from an equity fund within a year do that attract short term capital gains?
Nikhil Kaushik
(Expert)
09 June 2014
yes. this transaction will attract short term capital gains. this would attract 15% under section 111A.
Message likes :
1 times
Shailesh V
(Querist)
09 June 2014
Is it even if i redeem part of my principle & how?
Nikhil Kaushik
(Expert)
09 June 2014
yes. to whatever extent principal is redeemed, excess of redemption amount over investment amount is charged to capital gains.
10 June 2014
yes whether u redeem part or full its shrot term capital gain taxable under sec 111A @ 15%.
Prof. Bajaj
(Expert)
03 August 2014
The calculations are slightly tricky here.
You need to consider the NAV at the time of purchase and NAV at the time of redemption.
If the (difference in NAV) X No. of units redeemed = Positive value, only then you need to pay short term capital gains tax @ 15%.
You need to consider the NAV at the time of purchase and NAV at the time of redemption.
If the (difference in NAV) X No. of units redeemed = Positive value, only then you need to pay short term capital gains tax @ 15%.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
