Capital gain/ loss

This query is : Resolved

Salil Sen Mazumdar (Querist)
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15 July 2012 If i sold mutual fund of UTI on 03.10.2011 for a sum of Rs.14726 purchased on 24.06.1999 for Rs.10000. Pls tell me how much LTCG will be required to be paid by me as per A.Y.-2012-13.

Is there is any exemption of Interest earned on SB A/c or the whole amt is subject to tax?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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15 July 2012 The units of UTI are considered as Long Term Capital Asset. Long Term Capital Gains arising on such units is exempt U/s 10(38).
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For Ay 2012-13, SB A/c Interest is taxable.
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From AY 2013-14 SB A/c Interest is Deductible U/s 80TTA upto Rs. 10000/-
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