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.
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31 March 2016
very useful information, thanks Sir
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