Is Long term Capital gain arising out of debt oriented mutual fund is exempted u/s 10(38)?
And let me know the difference between debt oriented mutual fund & equity oriented mutual fund.
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Ltcg arising out of debt oriented mutual fund exempted?
Replies (1)
dear manasa,
LTCG arising out of sale of debt oriented mutual fund is not exempt under sec 10(38)
an equity oriented mutual fund is a mutual fund whose 65% of the proceeds is invested in equity shares.
cheers
ganesh agarwala
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