Calculation of Capital Gains
This query is : Resolved
07 July 2010
How is the capital gains calculated of an individual?
If an individual has invested in shares, mutual funds, LIC and Recurring deposits, how is capital gains calculated from these instruments or sources of an individual?
If an individual has invested in shares, mutual funds, LIC and Recurring deposits, how is capital gains calculated from these instruments or sources of an individual?
07 July 2010
Calculate gain for each seperately.
Gain from shares & mutual fund is capital gains.
Amount received on maturity of LIC is exempt u/s 10(10D)
There is no capital gain on recurring deposit. Only interest accrues. So it is taxed under income from other sources.
Gain from shares & mutual fund is capital gains.
Amount received on maturity of LIC is exempt u/s 10(10D)
There is no capital gain on recurring deposit. Only interest accrues. So it is taxed under income from other sources.
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12 July 2010
Gain on investment in shares and mutual funds are subject to Capital gain
LIC and Recurring deposits are not taxed under capital gain
LIC and Recurring deposits are not taxed under capital gain
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