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 ?
whether it is not within year or less than year ?
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%
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%
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