Ramakrishna C (Finance Professional) (32 Points)
27 September 2015I have invested INR 1lakh in a FMP on 25Mar2014 which got redeemed on 07Apr2015 with a gain of INR 9,142. My questions are
1) Is this gain to be treated as short term capital gain or long term capital gain (considering the change in taxation of debt mutual funds in July 2014) ?
2) Can I avail indexation benefit and claim capital loss, as my gain (i.e, 9,142) is less than the indexed gains (i.e, 15,122) as per CIIs of FY16 (1089) and FY14 (939)?
Miss Rinkal
(Student)
(1309 Points)
Replied 29 September 2015
If it is redeemed on 7th April 2015 then it will be treated as short term capital gain as the changes are already effected in respect of fmp wef 10 July 2014.
Since it is Stcg, you cannot avail indexation benefit
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