Capital Gain Mutual Fund
This query is : Resolved
26 January 2020
Can any tell me capital gain on redemption of mutual fund calculated on Average cost basis or FIFO basis
26 January 2020
FIFO basis
26 January 2020
thank for ur reply but sir if any ony one apply avg cost in that case is it correct if yes than why
26 January 2020
What is VG Cost?
If you refer capital Gain than MF is taxable as Short term if it is hold for less than 12 months
So for Bifurcation you have to calculate Short term profit & long term profit separately
If you refer capital Gain than MF is taxable as Short term if it is hold for less than 12 months
So for Bifurcation you have to calculate Short term profit & long term profit separately
Message likes :
1 times
27 January 2020
It can only be calculated on FIFO basis. Avg cost even if you apply is incorrect and if offered for tax will lead to misreporting/under reporting of income and can lead to penalty if scrutinised.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
