hi,
Can anyone please explain the tax treatment on Fixed Maturity Plans (growth option). What is the time period in order to qualify for LTCG tax? Is it one year or three years?
Regards,
Hari
2 Replies
Dharmesh
(ATC)
(21 Points)
Replied 01 January 2015
hi,
from 11 july,2014, holding period for FMP to qualify for LTCG will be more than 36 months. tax will be calculated @ 20% with indexation added with cess and surcharge, if any
Anup A Deshpande
(Freelancer)
(77 Points)
Replied 01 January 2015
Agree with dharmesh. After the said amendment, tax treatment of non equity instrument underwent change. So for FMP period is 3 years.
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