redemption of mutual fund

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 June 2011 whether capital gain will be calculate on redemption of mutual fund or not ?if yes then how ?

26 June 2011 yes, difference between cost and redemption value is gain/loss,,
holding more than 1 yr - long term, else short term
for equity oriented MF, short term gain is taxable at 15%, else for debt oriented gain will be clubbed with total income
long term gain exempt for equity oriented MF only..



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