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Stamp duty on purchase of Mutual Fund units

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Rohit Vijay

CA Finalist

23 Points Posted on 02 July 2020

After the introduction of stamp duty, will there be any change in accounting with respect of purchase of new mutual fund units since 0.005% duty will be levied?

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Quick Summary

This discussion explores the accounting implications of the new stamp duty on mutual fund unit purchases. It questions whether the 0.005% duty should be included as part of the acquisition cost. Furthermore, it seeks clarification on whether the cost of units for sale calculations should consider the initial investment amount or the amount after deducting the stamp duty.