Sale of mutual funds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 August 2012 plz advice me about whether the sale of units of mutual fund is taxable or not?

whether it is not within year or less than year ?

srinath

srinath (Expert)
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14 August 2012 depends on type of mutual fund

If it is equity fund then for sale made within year it would be taxed at the rate of 15%. If sold after 1 year, it would be exempt from tax

On the other hand if it is debt fund, then sale made within one year would be taxed at 30% whereas sold after 1 year generally taxed at the rate of 20%