10 April 2015
1. Doubling of tax on LTCG of Mutual Fund- earlier, the tax rate on LTCG was 10% on shares and securities. Now, the tax rate doubled to 20%.
2. Lock-in-period means you that there is restriction in transferability/ sale of the Mutual Fund for a period of 3 years.
Note: The definition of Long-term capital asset in case of shares/mutual funds etc., period of holding changed from 12 months to 36 months.
CAclubindia
