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Sale of Mutual Fund
One of my client invested in Mutual Funds in the year 2013 and again in the year 2018 and he has sold the same in the F.Y.20-21. Weather it is taxable now. If yes at what rates. and what about the calculation. Weather Difference between purchase and sales???
Replies (6)
Quick Summary
Hi VinodKumar
Mutual Funds are taxable when you sell units & depends upon the holding period. In your client case, it is Long Term Capital Gain. If Long term capital gain is upto 1Lakh, then no need to pay any tax on such income. If it exceeds Rs 1lakh then 10% on the excess amt over & above 1 lakh
Mutual Funds are taxable when you sell units & depends upon the holding period. In your client case, it is Long Term Capital Gain. If Long term capital gain is upto 1Lakh, then no need to pay any tax on such income. If it exceeds Rs 1lakh then 10% on the excess amt over & above 1 lakh
Yes continuing my friend's answer as above:
Income (LTCG) from mutual funds is the difference between Sales Price and Purchase price.
Indexation is not applicable in case of Shares, Mutual funds.
Income (LTCG) from mutual funds is the difference between Sales Price and Purchase price.
Indexation is not applicable in case of Shares, Mutual funds.
Thanks for reminding this point.
Please like the answer if you are satisfied ☺️
Thank you very much
Your welcome 😃
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