Tax liability of mutul fund
This query is : Resolved
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
MUTUL FUND.
NOW IF assess want to encash these MF
what the income tax treatment.
MF is non tax saving MF
26 November 2013
1. Long term capital gains (LTCG) on units (Held for more than 12 months) of equity oriented funds is exempt.
.
2. In case of LTCG on units of funds other than equity oriented, indexation is allowed. Tax has to be paid @20%
.
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.
.
.
2. In case of LTCG on units of funds other than equity oriented, indexation is allowed. Tax has to be paid @20%
.
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.
.
26 November 2013
dear sir
thanks for reply
if mutul fund based for debt fund based.
what will tax treatment ?
thanks for reply
if mutul fund based for debt fund based.
what will tax treatment ?
26 November 2013
Para 2 and 3 in my above reply are applicable.
.
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.
.
.
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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