sale of mutual funds

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2010 If I have sold mutual funds and earned capital gain of Rs. 100000 then on this 1 lakh I have to pay income tax. So my query is when I have to pay this tax?

Also, when I have to pay securities transaction tax? Is there any option to not to pay securities transaction tax?

Please reply ASAP.

Nischint Kumar Somani

Nischint Kumar Somani (Expert)
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19 September 2010 if it is short term answer is yes and long term than no capital gain tax on the same..

u r not required to pay any STT on the same.