Long term capital gain on Redumption of ICICI Prudential Mutual fund will be exempt income or not ?
Plz tell me the provision about this....
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Exempt income
Replies (2)
Long term capital gain on redemption of units of ICICI MF shall be exempt u/s 10(38) if it is formed under sec 10(23D), suffered STT and it is Equity Oriented fund.
Hi Shailendra,
In case of Equity oriented Fund, if you redeem the units & STT is applicable on such redemption; then you will not be required to pay Tax.
In case of non-equity oriented Fund, if you redeem the units, you will have to pay Tax.
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