Dear All,
One of my client has invested Rs 25 lac in Mutual Fund associated with ICICI BANK in FY 16-17.
Now in FY 17-18 that mutual fund has closed by on his request and total amount received from that Rs 26,25000/-.
My query is Rs 1,25,000/- extra amount received after closure of mutual fund is taxable or not...?
kindly reply
Thanx
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Amount recevied from closure of Mutual Fund
Replies (4)
Invested Under which scheme? Period of holding/investment?
PLFRAG CORPORATE BOND FUND-GROWTH
STARTED AT = FEB-2017
CLOSED AT = NOV-2018
STARTED AT = FEB-2017
CLOSED AT = NOV-2018
Its Corporate Bond Fund......... a Debt fund...
As held less than 3 years........ liable for Short Term Capital Gains......
The STCG of 1.25 L is added to his income and taxed as per applicable slab rate...........
thanx a lot sir
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