Tax treatment on mutual funds
This query is : Resolved
02 October 2015
I have bought certain units of MF (Equity scheme) for Rs.1 lac. In 6 months of investment valuation for my investment was Rs.1.5 lacs.
So I did partial redemption for Rs.75k within 6 months of Investment,
how tax would be applicable ? Will I be taxed @15% as STCG? If yes then on what amount ?
After completion of 1 year, the rest of the investment has valuation of Rs.20K, How much loss I can account to carry forward? Or setoff against other Capital Gain?
By summing up, I'm incurring loss for Rs. 5k on my investment.
Please advise.
CA Mohit Bansal
(Expert)
05 October 2015
Yes. STCG is applicable on the sold mutual funds(75000 less cost of such units) u/s 111A @ 15%.
Setoff of loss is available only when you actually sale the units and not otherwise
Setoff of loss is available only when you actually sale the units and not otherwise
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