Hi, 

I have certain queries regarding LTC and STC gain taxes that follows on redemption of equity mutual funds . I came to know if it is less than one year it attracts STC of some 15% and more than one year than there are no tax implication as such. however in the given below scenario I need your advice how the taxation will occur 

1) If I invest on some mutual fund in the month of april year 2010 with the growth option and then some more money I put in the month of oct year 2010 with the same fund and plan .Now next year if I want to take an exit from the fund in the month of april 2011 or may 2011 would it attract any STC gain on the money which I invested in the month of oct 2010 or the taxation would merely take the whole amount invested in that particular time span i.e. from april 2010 to april 2011 and it will only attract the LTC gain taxes which would be nil as the fund has exceed the 365 days period??

2) and the other scenario is if keep on investing in a particular equity for some 3 or 4 year but not through SIP and would like to exit in the 5th  year from the commencement how the tax will be calculated on such investments? 

Please help me with this. 

Thanks