Calculation of stcg on debt funds

Hi,

I am an engineer by profession and is new to finance concepts. I need to file ITR and have a query regarding calculation of STCG. Please confirm if my understanding is correct:

Scenario: I made investments and redemptions in an Ultra short term debt fund as follows-

On 05-04-2015, invested 700rs, NAV 10rs, No of units = 70.

On 12-04-2015, invested 2000rs, NAV 11 rs, No of units = 181.8.

On 01-08-2015, redeemed 1500rs, NAV 15rs, No of units = 100.

Calculation of STCG is as follows:

Since I fall in 20% tax bracket, the profit I gain on the transaction will be charged at 20%.

Actual cost of purchase:

Of the 100 units I redeemed, 70 will come from the purchase on 05-04 and the remaining 30 will come from the purchase on 12-04-2015.

The 70 units has a cost price 70*10=700rs and the remaining 30 units has a cost price 30*11= 330. Thus total cost price = 700+330=1030 rs.

Profit on the redemption = 1500-1030 = 470rs.

STCG = 470rs.

Tax to be paid according to tax bracket is 20% of 470 = 54rs.

 

Please tell if the calculation is correct.

Replies (3)
your calculation is correct .
Short-term capital gains are added to the income and taxed as per the individual's income tax slab. 

you can verify ur calculation after getting ur capital account statement .
Mutual fund investors can get the capital account statement on demand from the fund house. However, some fund houses send the statement after the end of each financial yea

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