Taxability for mutual fund
This query is : Resolved
28 March 2016
how is taxability for amount received from mutual fund for SIP investments??
Prof. Bajaj
(Expert)
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- GSTR9 Annual Return
- Applicability of tax on invoice
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Capital Gains Tax on Inherited Mutual Fund
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Form 144 TDS Return Validation Error – Mandatory Fields
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
