Tax treatment on redemption of mutual funds
This query is : Resolved
18 March 2014
Dear Sir,
Please let me Know,
The tax treatment on:
a)Redemption of mutual funds.
b)sale of mutual funds.
Please let me Know,
The tax treatment on:
a)Redemption of mutual funds.
b)sale of mutual funds.
18 March 2014
1. If the units were held for a period of more than 12 months, then any gain is exempt.
Any loss is a capital loss which has NO tax treatment.
2. If the units were held for a period of less than 12 months, then the gain is a short term capital gain and is taxable @ 15%.
Any loss can be set off from other gain (Long term or short term). If not set off entirely, then can be carried forward for 8 assessment years.
Any loss is a capital loss which has NO tax treatment.
2. If the units were held for a period of less than 12 months, then the gain is a short term capital gain and is taxable @ 15%.
Any loss can be set off from other gain (Long term or short term). If not set off entirely, then can be carried forward for 8 assessment years.
18 March 2014
Dear Sir
If STT is deducted on the redemption.
If STT is deducted on the redemption.
18 March 2014
1. LTCG will be exempt only if STT has been paid at the time of redemption/sale.
2. Normally units are redeemed with the mutual fund only and they charge STT on the same.
2. Normally units are redeemed with the mutual fund only and they charge STT on the same.
25 March 2014
I agree with Mr. Bhardwaj for Equity Mutual Funds.
However, for non-equity mutual funds (i.e. debt, liquid, gold, FOFs etc), units held for more than 365 days will be taxed at 10% (without indexation) or 20%(with indexation.
For units held less than 365 days, the gains will be clubbed with income and taxed as per slab.
However, for non-equity mutual funds (i.e. debt, liquid, gold, FOFs etc), units held for more than 365 days will be taxed at 10% (without indexation) or 20%(with indexation.
For units held less than 365 days, the gains will be clubbed with income and taxed as per slab.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
