Redumption of Mutual Fund

This query is : Resolved 

06 July 2008 If an assessee made an investment in Mutual Fund of 1 cr n later on he withdraws money from Mutual fund in part as he requires say 20L 50L then that withdrawal are liable for Capital Gain Tax

07 July 2008 Yes, capital gain earned is liable for Income Tax.

07 July 2008 u r right, u will have to calculate the diff b/w redumption value and the cost and the same will be either short term or long term cap gain depending upon the period of holding




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