IF a mutual fund has been sold within 18 months of its purchase....
wud it be a long term CG or STCG , if there is no STT paid on either purchase or sale ?
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Income Tax
Replies (8)
LTCG
LTCG
Definitely LTCG because u have hold it for more than 12 months.
LTCG for sure ........ and will be tax @ 20%
| Originally posted by :VARUN | ||
| " | LTCG for sure ........ and will be tax @ 20% | " |
Dear Varun,
It shall be taxed at lower of {10% without indexation and 20% with indexation}.
Thanks
its long term capital gain
LTCG
LTCG if u r holding it for more then 12 months.
if no stt is paid then u can not avail the benefit of section 10(38) as section 10(38) requires fulfillment of following two conditions:-
Long term Capital gain must arise on transfer of equity shares of a listed company or units of equity oriented mutual funds(a mutual fund wherein investible funds are invested in domestic companies for more than 65% of the total proceeds of such fund)
Such transaction is chargeable to Securities Transaction Tax.
further if u have any query u can reach me on
sunil.kotak @ money-matters.in
Thanks,
sunil
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