Dear All,
Just want to know, whether there is Capital gain on sale of Mutual Funds which was on hold for more than 12 months. Is there any exemption for that?
Keval
(Consultant)
(120 Points)
Replied 09 September 2011
Dear Mr Agarwal,
If securities Transaction tax is paid on that mutual fund. Then long term capital gain is exempt under section 10(38).
Regards
CA SOURAV KUMAR GANDHI
(B.com (H), CA )
(133 Points)
Replied 09 September 2011
According to sec 10(38), LTCG from listed shares, and equity oriented mutual fund (where 65% of the total fund is invested in equity shares of domestic co.) which are subjected to STT, are exempt.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
