I am filling my dad return he is investing mutual fund in hdfc equity fund SIP from 2007 and in 2014 March he just redeem the 1200 share and balance 1000 share was redeem in April 2014.
how will I calculate capital gain or loss in this and in itr wat is the treatment?
plz reply
As he sold Mutual funds in march 2014 as First batch of sale, MF purchased till March 2013 since 2007 year would be Long term and any gain on this transaction is exemped if it is equity orientd MF ( held for morethan 12 months).The MF which is bought from March 2013 till march 2014 ( held for a period of less than 12 months) , any gain on such sale wolud be short term capital gains. Long term capital gains are exempted and short term capital gains are taxable along with income from other heads.
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