when Equity-Linked Savings Scheme amount withdraw after 3 years,then TAX chargeable under which section
avikal chauhan (1 Points)
11 August 2020when Equity-Linked Savings Scheme amount withdraw after 3 years,then TAX chargeable under which section
CA Sunil Kumar
(Chartered Accountant)
(4514 Points)
Replied 11 August 2020
Section 112A If returns (Long-term capital gains) from ELSS is above Rs 1 lakh,then it would be taxed at 10 percent without any indexation benefit.
Asha Kanta Sharma
(Manager - Finance & Accounts)
(10519 Points)
Replied 11 August 2020
The entire invested capital amount which was earlier claimed as deduction as ELSS now will be taxed at normal rates.
CA Sunil Kumar
(Chartered Accountant)
(4514 Points)
Replied 12 August 2020
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