Tax Liability on Mutual Fund Reedeemed

Tax queries 527 views 1 replies

Dear Experts ,

Previously I had try  to Know that what will be my Tax liability on income earned on reedeemtion of Mutual  Fund in which I have stayed invested for more than 3 yrs. I was replied that if STT is paid on reedemtion than there will not be any Tax Liability. On checking the reedeemption  certificate i found that STT was paid in all cases. So kindly help me by informing under which section I should claim the exemption on the money earned.(Reedemption price of unit - Cost of Unit in NFO == Profit Earned)

Regards,

YOGESH SHETH    

Replies (1)

Capital Gain on sale of Equity Oriented MF is exempt u/s 10(38) of the Income tax Act...


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