UTI CLOSE END MF SCHEME MEP WAS CONVERTED INTO MEPUS. ON REDEEMING THE UNITS, WILL THE PROCEEDS BE TAXABLE? HOW LTCG WILL BE CALCULATED? WILL THERE BE GRANDFATHERING OF NAV? WHAT WAS THE GRANDFATHERED NAV FOR MEPUS?
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UTI CLOSE END MF SCHEME MEPUS LTCG CALCULATION ON SELLING.
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Redeeming units from the converted UTI MEPUS scheme is treated as a capital gain on an equity-oriented mutual fund. You are taxed at 12.5% for long-term gains (held >12 months) on profits above ₹1.25 lakh, or 20% for short-term gains. If you held units since before February 1, 2018, you can use the grandfathering formula (comparing actual cost, Jan 2018 NAV, and sale price) to determine your cost of acquisition.
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