Hi,
Kindly confirm what would be the LTCG tax in the below scenario.
Amount invested : 10 Lacs
Date of investment: 4 lump sum investments in 2018 in different months.
Holding period : 5 years
Value of MF units after 5 years : 20 Lacs (10 Lac invested + 10 Lac Gain)
Redemption/Sale Amount : 10 Lacs
What will be the tax in this scenario?
My understanding is since sale amount and purchase amount are same the LTCG tax is nil.
Is my understanding correct?.
CAclubindia
