2006-11-05 14:25:56 · 6 answers · asked by pintu 1 in Business & Finance ➔ Taxes ➔ India
Sure, and good news is that the long term capital gains tax on equity oriented mutual fund is NIL.
2006-11-07 02:33:05 · answer #1 · answered by q4tax 3 · 0⤊ 0⤋
In case of equity linked mutual funds the capital gain tax is not applicable if
1. The units were held for a period not less than 1 year;
2. The STT is deducted at source.(Security Turnover Tax)
This provision is as per the current provisions.
2006-11-05 22:38:33 · answer #2 · answered by concerned citizen 2 · 0⤊ 0⤋
Yes, depends on your statement from the mutual fund showing long term capital gains, that amount is given the long term capital gains rate. However, if it is from Equity linked mutual fund than the same is exempted.
2006-11-08 06:40:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, if your statement from the mutual fund shows long term capital gains, that amount it given the long term capital gains rate.
2006-11-06 02:05:18 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
yes, capital gains of the fund paid to you are taxable as either ordinary income or as capital gain. If you sell the shares you own of the fund istself at a gain that is taxable.
2006-11-06 06:41:19 · answer #5 · answered by waggy_33 6 · 0⤊ 0⤋
yes
why even ask?
2006-11-05 22:55:07 · answer #6 · answered by Bruce (Bill) B 2 · 0⤊ 1⤋