23 September 2009
suppose ram pur. mutual fund for rs. 10000 in may 08 and claim deduction in 80c in a.y.09-10 and submitt the return in july.09 and now he sold the fund and receive 12000 in sep.09 . Is the ded. of 80c has to be withdrawn and what is the tax treatment for the gain of rs. 10000
Is it would be exempt as LTCG u/s 10(38) or taxable @20 %.
CAclubindia
