Doubt on capital gain of mutual funds??
This query is : Open
10 April 2015
In the high lights of BUDGET 2014-15
i noticed the following point..
** Long term capial gain tax for mutual funds doubled to 20 pc; lock-in period increased to 3 years..
What does that mean?? i didnt get clarity on that point..
Thanku you...
i noticed the following point..
** Long term capial gain tax for mutual funds doubled to 20 pc; lock-in period increased to 3 years..
What does that mean?? i didnt get clarity on that point..
Thanku you...
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.
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.
10 April 2015
Thank You CA JOHN Sir..
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
