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Tax implications of MUTUAL FUND REDEMPTION

Nikita Kulkarni (STUDENT) (262 Points)

03 July 2018

What are the tax implications of mutual fund redemptions?

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Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 03 July 2018

Refer this link. https://cleartax.in/s/different-mutual-funds-taxed

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Nikita Kulkarni (STUDENT) (262 Points)
Replied 03 July 2018

An individual has mutual fund redemptions but doesn't have mutual fund statement and hasn't received any statement in email and also he hasn't invested via any advisor. what to do in such a case

Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 03 July 2018

The date & amount of investment and redemtion can be obtained through bank statement since bank is the only channel. Based on that the nature of tax whether long term / short term can be determined and taxed accordingly.

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Nikita Kulkarni (STUDENT) (262 Points)
Replied 03 July 2018

The individual doesn't remember date and amt of investment And it is long term investment

Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 03 July 2018

It should have been done through bank only in any case, so its better you analyse the bank statement to identfy the date and amount. If not possible, you can approach the MF management company and quote the PAN of the client with which they might be able to help in you with the details.