Tax liability of mutul fund

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Rupesh Jain (Querist)

26 November 2013 assesse invest in ICICI, Birla sun life
MUTUL FUND.

NOW IF assess want to encash these MF

what the income tax treatment.

MF is non tax saving MF

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

26 November 2013 1. Long term capital gains (LTCG) on units (Held for more than 12 months) of equity oriented funds is exempt.
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2. In case of LTCG on units of funds other than equity oriented, indexation is allowed. Tax has to be paid @20%
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3. For units held for 12 months or lesser period, STCG can be calculated by deducting the cost from the sales consideration or repurchase price.
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Rupesh Jain

Rupesh Jain (Querist)

26 November 2013 dear sir

thanks for reply

if mutul fund based for debt fund based.

what will tax treatment ?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

26 November 2013 Para 2 and 3 in my above reply are applicable.
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Ascertain the year of each purchase. Also ascertain the amount invested. Find out indexed cost of acquisition and deduct the same from the sales consideration.
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