Taxation of mutual funds
This query is : Resolved
31 July 2013
Dear sir
Kindly help me on this. My client has sold some mutual funds which is long term capital asset. It is not a regular business of him. So will this attracts capital gain tax r it is exempted like long term equity shares ?
Kindly help me on this. My client has sold some mutual funds which is long term capital asset. It is not a regular business of him. So will this attracts capital gain tax r it is exempted like long term equity shares ?
01 August 2013
pls specify whether it is equity or debt oriented?
31 August 2013
Till you give the details it is difficult to comment. The expert has correctly asked for the details. Kindly provide the same. If it is Equity based then it is LTCG and is exempted.
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