23 September 2012
WHETHER SALE OF MUTUAL FUND UNITS OF TEMPLETON MUTUAL FUNDS ARE SUBEJCT TO MAT TAX? THE LT GAIN ON SALE OF THOSE MUTUAL FUNDS ARE EXEMPT U/S 10(38)? WHETHER THEY ARE LIABLE FOR MAT TAX?
23 September 2012
Sale of such mutual fund units are exempt from tax only if they are equity oriented funds and subject to STT. If it is exempt u/s 10(38)then MAT is not applicable.
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