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Tax implications of MUTUAL FUND REDEMPTION
What are the tax implications of mutual fund redemptions?
Replies (5)
Refer this link. https://cleartax.in/s/different-mutual-funds-taxed
An individual has mutual fund redemptions but doesn't have mutual fund statement and hasn't received any statement in email and also he hasn't invested via any advisor. what to do in such a case
The date & amount of investment and redemtion can be obtained through bank statement since bank is the only channel. Based on that the nature of tax whether long term / short term can be determined and taxed accordingly.
The individual doesn't remember date and amt of investment And it is long term investment
It should have been done through bank only in any case, so its better you analyse the bank statement to identfy the date and amount. If not possible, you can approach the MF management company and quote the PAN of the client with which they might be able to help in you with the details.
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