05 September 2010
Refer to https://www.caclubindia.com/experts/long-term-capital-gains-on-mutual-funds-446390.asp If shares or equity MFs are held for more than 12 months before selling, the gain arising is classified as Long Term Capital Gain.
In the case of long term capital gain arising out of the sale of shares or equity mutual funds, there is no income tax.
The long term capital gain in this case is tax free.
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