hi!
Guidance required for considering date of sale/purchase of units of mutual fund.
Whether switching of amount from one mututal fund to other is considered as sale?
eg. Franklin India prima growth fund - date of purchase:25/11/05
date of switching: 12/3/08
Query: 1.can 12/3/08 be treated as date of sale and the transaction taxable to LTCG ?
2. if after switching, i buy a MF- Franklin india blue chip - dividend fund and sale the units on 31/3/08 . Is this another transaction or mere extension of the first one?
i.e can the diff betn sell price and cost price on 31/3/08 be treated as separate capital gain transaction?
CAclubindia
