On 31st March 2008, I have invested Rs.30000 + Rs.30000 (Total Rs.60000/-) in Reliance Equity Linked Saving Funds which had Lock-in Period of 3 years to avail Tax Benefit.
On 02nd April 2018 (after 10 years) it got matrured and amount of Rs. 96245.04 + 96245.04 (Rs.192490.04) credited to my bank account.
Investet Amount = Rs.60,000/- Maturity Amount Rs. 192490 Capital Gain Rs. 132490
I would like to know whether the maturity/Gain amount is taxable under Capital Gain or not. If taxable, please let me know Income Tax Rate for the same. If Taxbale, Can we get exemption by reinvesting the amount into any Tax Savings Fund in the FY 2018-19?
Kindly suggest.
CAclubindia
