Long term capital gain on Redumption of ICICI Prudential Mutual fund will be exempt income or not ?
Plz tell me the provision about this....
2 Replies
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 29 June 2009
Hi Shailendra,
In case of Equity oriented Fund, if you redeem the units & STT is applicable on such redemption; then you will not be required to pay Tax.
In case of non-equity oriented Fund, if you redeem the units, you will have to pay Tax.
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