Taxation of sbi magnaum tax gain mutual fund
This query is : Resolved
Dhiraj kumar
(Querist)
22 July 2013
Dear Sir,
Investment in SBI Magnum Fund is deductible under section 80C.But while redemption of such fund,if the profit is realised then how will it be taxed.
Please solve my doubt.
Thanks in Advance
Regards
Dhiraj Kumar
Investment in SBI Magnum Fund is deductible under section 80C.But while redemption of such fund,if the profit is realised then how will it be taxed.
Please solve my doubt.
Thanks in Advance
Regards
Dhiraj Kumar
14 August 2013
There is a minimum lock-in period of 3 years in case of such funds. gain arising on units redeemed AFTER the lock-in period are exempt from tax.
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