Dear All,
Please advise how to compute Income Tax on Long Term PMS Gain.
Please reply with Authenticated and Reliable links or sources along with Sections.
Thanks in Advance
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PMS - Portfolio Management Services - Taxation
Replies (1)
PMS is a pass-through investment where you are the direct taxpayer. Gains from transactions are taxed as capital gains (STCG or LTCG) based on the holding period of the individual securities, while dividends and interest are taxed at your personal income tax slab rate. Management fees are not deductible for tax purposes.
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