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treatment of SIP

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(Querist)
23 May 2011 if a person has invested in SIP in which monthly installment is given for SIP plan.and he is giving for the last 3 years. In the fourth year he redeem the SIP plan in the month of jan what will be the tax treatment...is it long term or short term gain???
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Suresha R

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Suresha R (Expert)
23 May 2011 It is Long Term Capital Gain,(since it is more than 12 months)
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
23 May 2011 THE TRANSACTION WILL BE TRATED ON ONE-TO-ONE BASIS
SO FOR EVERY MONTH PURCHASE U WILL HAVE TO DETERMINE PERIOD OG HO;LDING BECAUSE ON EVERY INSTALMENT CERTAIN UNITS ARE ALLOTTED

CA MANOJ GUPTA
JODHPUR
09828510543
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