Tax on maturity of mutual fund
This query is : Resolved
Sumiti Jain
(Querist)
23 December 2011
Is the amount recevied on the maturity of Mutual Fund liable for Capital Gain Tax?
23 December 2011
Yes. If sold after 1 year it will be Long Term Capital Gain and therefore exempt from Tax u/s 10(38). If sold before one year it will be Taxed as Short term capital Gain u/s 111A @15% (SC & Cess As applicable).
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Sumiti Jain
(Querist)
23 December 2011
But if the money is invested in Debt Based Fund then whether the Maturity money is taxable?
Because Equity Based Fund are free from tax
Because Equity Based Fund are free from tax
Aditya Maheshwari
(Expert)
23 December 2011
Debt funds are taxable as LTCG @ 20% with indexation. If listed then option to pay tax on LTCG @ 10% without indexation.
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