Taxability for mutual fund
This query is : Resolved
28 March 2016
how is taxability for amount received from mutual fund for SIP investments??
29 March 2016
If its an equity mutual fund or equity oriented mutual fund, there is no tax for gains arised out of units sold after 12 months of purchase.
If the units are sold earlier than 12 months of purchase, there will be a STCG tax payable at the rate of 15%.
If its a debt mutual fund or debt oriented mutual fund, there is 20% tax for gains arised out of units sold after 36 months of purchase (after doing indexation).
If the units are sold earlier than 36 months of purchase, it will be clubbed with income and taxed as per slab rate.
If the units are sold earlier than 12 months of purchase, there will be a STCG tax payable at the rate of 15%.
If its a debt mutual fund or debt oriented mutual fund, there is 20% tax for gains arised out of units sold after 36 months of purchase (after doing indexation).
If the units are sold earlier than 36 months of purchase, it will be clubbed with income and taxed as per slab rate.
Message likes :
1 times
31 March 2016
very useful information, thanks Sir
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
