Taxability of Mutual Funds Switch out & Switch in
This query is : Resolved
Akshaychandwani
(Querist)
20 September 2009
I would like to know whether trf from one scheme to another scheme within the same fund, is taxable.
In above transaction, funds received from switch out is invested in other scheme. STT is paid on the same.
In above transaction, funds received from switch out is invested in other scheme. STT is paid on the same.
CA. B.SRINIVASULU
(Expert)
20 September 2009
Yes changing from one scheme to other scheme will be treated as if you have sold the scrip and you have purchsed new one with the sale proceeds. Therefore the same is taxable transaction.
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