what would be the treatment of capital gain on sale of mutual funds, if a person is depositing Rs2000 each month for 4 yrs.?
Will there be long term gain or short term gain or both by dividing the period in3 yrs and 1 ys investment.
Pls reply soon
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Capital gain on sale of mutual fun-growth plan
Replies (3)
Notified Mutual Fund u/s 10 (23D)
https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2002ITAct/circulars2002/cirsec10%2823d%29.htm
Assuming investments are held in dematerialised form ,Please refer Circular no-768 dated 24.06.1998.- FIFO method is to be apply while determining the holding period when any unit is sold.
12 months purchase within the redemption willl be short term, the remaining long term.
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