23 December 2011
Yes. If sold after 1 year it will be Long Term Capital Gain and therefore exempt from Tax u/s 10(38). If sold before one year it will be Taxed as Short term capital Gain u/s 111A @15% (SC & Cess As applicable).
23 December 2011
But if the money is invested in Debt Based Fund then whether the Maturity money is taxable? Because Equity Based Fund are free from tax
CAclubindia
