Long term capital gain on Redumption of ICICI Prudential Mutual fund will be exempt income or not ?
Plz tell me the provision about this....
shailendra (students) (59 Points)
29 June 2009Long term capital gain on Redumption of ICICI Prudential Mutual fund will be exempt income or not ?
Plz tell me the provision about this....
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 29 June 2009
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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