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Mutual fund redemption 1
if a salaried person redeemed equity oriented mutual fund(RTA) THEN where to show in itr or capital gain is to be charged on it or not.
Replies (14)
Capital gain only
ITR -2 will be used and show this income in capital gain
Is it a long term capital gain and it is to be shown as income and what is the tax rate applicable on it.
If the mutual fund-equity funds were held for more than 12 months then it will be LTCG. In the case of Debt funds, it will be treated as long-term if held for more than 36 months.
Equity funds -
LTCG - A tax rate of 10% will apply on all gains above Rs. 1 Lacs.
STCG - 15% flat rate
Debt funds
LTCG - A tax rate of 20% will apply to all gains after indexation
STCG - applicable slab rate
Depends on nature of CG, in case of LTCG from shares 10% withhout indexation & 20% with indexation (exemption of Rs 100000 allowed ) and stcg from equity u/s 111A taxable @ 15% and other STCG at slab rate
If ltcg on redemption of mutual fund is less than 100000 then it is to be shown in itr or not
Even if LTCG on MF redemption is less than 1 lakh it still needs to be shown in ITR, assume its already showing up in the AIS
You need to show details of CG even amount is less than Rs.1 lakhs.
If it is long term capital gain then upto 1lac is exempt
Already mentioned by querist, you are making him aware about facts which are already known to him.
But in the initial query it was not asked ..
Exempt but still it has to be shown
Exempt but still it has to be shown
But before your reply he mentioned it
👍🏻👍🏻🍵
You have not capability of matching my points that's why you are doing all senseless thing like putting thumbs after every post.
Use your knowledge to ear point not only thumbs.
Use your knowledge to ear point not only thumbs.
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