19 June 2012
I have to prepare income tax return of an individual person. He has provide me the account statements for mutual fund investments made by him. Now, how can I come to know that mutual fund is a equity oriented type or other? And also how to know that STT is paid or not? And if STT is paid than can we deduct STT from sale consideration?
19 June 2012
Hi Generally type of fund can be made out from the name and if not kindly see the composition of the holdings on its AMC site. STT is paid only at the time of redemption and it is compulsorily deducted and paid by the AMC.
CAclubindia
