Capital Gains

This query is : Resolved

Sandeep (Querist)
Follow

22 July 2010 Whether capital gain is applicable in case of redemption of mutual funds and what will be the cost of acquisitions for the same

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

22 July 2010 Cost would be the amount paid for purchasing the mutual fund.

If STT is paid on sale and the mutual fund is held for more than 1 year then the gain will be exempt u/s 10(38).

Otherwise the same will be taxable as STCGains or LTCG as the case may be

Sandeep

Sandeep (Querist)
Follow

22 July 2010 thank you for the prompt reply

Upgrade to CAclubindia Pro. Subscribe Now!