Tax on redemption on mutual funds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2012 1.)Fund Name:BSL MIP II Savings-5 MD-Payout

Purchase:
09/06/2009; Amount: Rs.25000
Sale:
21/11/2011; Amount: Rs.25129.83

2.)Fund Name:BSL Dynamic Bond Fund-Retail- QD-Payout

Purchase:
16/09/2009; Amount: Rs.9000
Sale:
21/11/2011; Amount: Rs.11733.54

3.)Fund Name:BSL Govt. Securities Long Term Growth
Purchase:
28/08/2009; Amount: Rs.10000
08/10/2009; Amount: Rs.5000
Sale:21/11/2011; Amount: Rs.17520.10

Please guide me about the taxability of these bonds

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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11 May 2012 All of them are long term capital assets and accordingly the gain arising from such sale is exempt in the hands of the assessee.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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11 May 2012 Capital gain on these is not exempt and you can get the benefit of indexation if these are held for more than 1 year.
Accordingly, LTCG or LTCL will arise that will not be exempt u/s 10(33),10(35), 10(38) or any other section.

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