Capital Gain on Mutual Fund

738 views 4 replies

Hi

One of my friend have taken a mutual fund and where by he had invested INR 5000 every month for 36 months. But after 27 months he sold all the available units and realised a profit of INR 15,000(Approx) and as per the details he has the STT has been paid on the transactions.

I would like to know whether this profit is a LTCG or STCG and how to calculate the tax.

 

Thanks in advance.

 

Saravana

Replies (4)

 

Is it mutual fund oriented unit? If you have paid STT on it. this LTCG will exempt after 1 year.

the units sold, purchased within a year are STCA and rest are LTCA attracts STCG and LTCG resp.

and on mutual funds LTCG (if STT is paid i.e as in ur case) is exempt..

Hi

@ Pankaj : Yes it is a Mutual fund oriented one and STT has also been paid at the time of sale. Thanks . . .

@ Dheeraj : The only doubt is that as per policy he has to invest monthly for 36 months but he withdrew half way through and wanted to know whether pre closure can be considered as LTCG ? Thanks . . . .

 

Than its exempt from tax..


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details