Exempt income

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.