TAX ON LTCG ON MUTUAL FUND UNITS
This query is : Resolved
04 September 2010
HELLO EVERYONE,
MY BROTHER HAS PURCHASED MUTUAL FUND UNITS(OTHER THAN EQUITY ORIENTED) IN 2008 FOR RS.50000.
IN AUG-11 HE SOLD ALL THE UNITS FOR RS.100000.
WHAT IS THE RATE OF TAX ON LTCG??
IS INDEXTATION ALLOWED??
WAINTING URGENTLY FOR UR REPLY.
THANX IN ADVANCE
MY id abhipcc@rediffmail.com
MY BROTHER HAS PURCHASED MUTUAL FUND UNITS(OTHER THAN EQUITY ORIENTED) IN 2008 FOR RS.50000.
IN AUG-11 HE SOLD ALL THE UNITS FOR RS.100000.
WHAT IS THE RATE OF TAX ON LTCG??
IS INDEXTATION ALLOWED??
WAINTING URGENTLY FOR UR REPLY.
THANX IN ADVANCE
MY id abhipcc@rediffmail.com
05 September 2010
Refer to https://www.caclubindia.com/experts/long-term-capital-gains-on-mutual-funds-446390.asp
If shares or equity MFs are held for more than 12 months before selling, the gain arising is classified as Long Term Capital Gain.
In the case of long term capital gain arising out of the sale of shares or equity mutual funds, there is no income tax.
The long term capital gain in this case is tax free.
If shares or equity MFs are held for more than 12 months before selling, the gain arising is classified as Long Term Capital Gain.
In the case of long term capital gain arising out of the sale of shares or equity mutual funds, there is no income tax.
The long term capital gain in this case is tax free.
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