Hi, I'm planning on meeting family expenditure through MIP mutual funds. So if I invest now and after 1 year I start withdrawing a fixed sum every month will that withdrawal amount be taxable? Any investment in equity after 1 year is tax free right?
Menu
Is monthly withdrawal from mip after 1 year taxable?
Replies (3)
"Any investment in equity after 1 year is tax free right?"
Right.
So, your systematic (monthly) withdrawal plan, is related to redemption of units/investment in equity/balance fund invested before 12 months............. then no capital gain tax liability.
Sir, the monthly withdrawal will be made after completion of 1 yr, that is, from the 13th month I'll systematic withdrawal.. so no tax liability if I invest in equity/balanced fund but for MIP funds?
| Originally posted by : Swady | ||
 |
Sir, the monthly withdrawal will be made after completion of 1 yr, that is, from the 13th month I'll systematic withdrawal.. so no tax liability if I invest in equity/balanced fund but for MIP funds? |  |
MIP are debt funds and are taxable as per period of holding. Any period less than 3 years is treated as short term for calculation of capital gains, that please note.
Recent Topics :
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
Related Topics :
CAclubindia
