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Taxation of Mutual Fund

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(Querist)
17 July 2009 how is the investment in Mutual fund Lumpsum or SIP taxed ???
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RAJESWARI S

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RAJESWARI S (Expert)
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"
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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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