Does switching of units under mutual fund from one scheme to another scheme exempt under section 47.
If not, what kind of merger or consolidation of funds is exempt under section 47 clause xviii.
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Switching of units of Mutual Fund Tax Implication.
Replies (5)
switching includes two transactions, first sale of old units, which will attract capital gain and second is purchase of new units.
1. Its taxable u/s. capital gains.
2. In case of merger or consolidation by fund house it is not treated as transfer in the hands of investor.
Thanks for ur valuable reply sir.
but what is difference between merger by fund house and switching. Both are done by mutual fund.
but what is difference between merger by fund house and switching. Both are done by mutual fund.
Switch is demanded by you. while for merger fund house has to take SEBI permission.
Got it Sir.
Thanks a lot.
Thanks a lot.
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