redemption of mutual fund
This query is : Resolved
Querist : Anonymous
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..
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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