Taxation of Mutual Fund
This query is : Resolved
17 July 2009
how is the investment in Mutual fund Lumpsum or SIP taxed ???
17 July 2009
Amounts invested in tax saver SIPs are deductible u/s 80C of the IT Act.
When you sell the Units of MF then the gains are taxed under the head "Capital Gains"
When you sell the Units of MF then the gains are taxed under the head "Capital Gains"
17 July 2009
Yes gain on sale of mutual fund units attracts capital gains. Ref:- proviso to section 10(35) of the Income tax Act,1961.
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