Regarding taxation in Mutual Funds

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self ampoloyed
53 Points Posted on 02 June 2020
If I sell off my holding of mutual fund, index fund, ELSS,share after 3 years and above, -
1. will the profit be taxable under capital gain tax or income tax act?
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On 02 June 2020 at 00:30 Report
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Quick Summary
This discussion clarifies the taxation of profits from selling mutual funds, index funds, and ELSS investments held for over three years. Profits are subject to Long-Term Capital Gains (LTCG) tax, not income tax. The LTCG tax rate is 10% if the annual capital gain exceeds £1 lakh, with no indexation benefits applicable.

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133 Points Posted on 02 June 2020
Yes it will be taxable under CG
1 Reply
On 02 June 2020 at 15:59
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Chartered Accountant
4524 Points Posted on 29 June 2020
LTCG tax is applicable @ 10% if capital gain exceeds Rs. 1 lakh a year and no indexation benefits.
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On 29 June 2020 at 17:45
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self ampoloyed
53 Points Posted on 29 June 2020
Thank u very much sir
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On 29 June 2020 at 17:54

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