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Short term capital gain on Mutual Fund

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(Querist)
15 July 2010 Whether short term capital gain on Mutual fund is taxable???
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srinath

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srinath (Expert)
15 July 2010 Short term capital gain (STCG) on mutual fund is always taxable. there are two types of mutual funds
1. equity oriented fund... STCG is taxed at 15%(section 111A)
2. Debt Fund... STCG is calculated at normal rate of tax

For the above mentioned rates Surcharge if any and EC and SHEC should be added
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