1. I have invested in mutual fund in the name of my mother. if i redeem after say, 10 years, should i have to pay LTCG or not ? she is not taxpayer or salaried individual. 2. As a salaried individual, if i redeem mutual fund or sell shares after 1 year , after paying LTCG should i have to pay again taxes as per my income slab ?
@FisdomOfficial2 жыл бұрын
Q.1) Taxation depends on the asset class(i.e.equity or debt) you invest in. - If you are investing in equity-oriented mutual funds, then the taxation will be as follows: 1. Units held for 12 months or less: 15% 2. Units held for 12 months or more: 10% on capital gains exceeding Rs.1 lakh. - If you are investing in debt-oriented mutual funds, then the taxation will be as follows: 1. Units held for 36 months or less: As per the income tax slab of the investor 2. Units held for 36 months or more: 20% after providing indexation. Taxes on capital gains is the only basis for realized gains/profits. Income from any other source does not have any impact on these applicable taxes. Answer Q.2) Taxation will be applicable per the conditions mentioned above. Tax payable on capital gains is distinct from tax liability from any other income (in this case, salary). So, there will be no separate capital gains tax incidence while paying taxes on salary if you have already paid the tax on capital gains. Hope this helps you please subscribe😊
@saantanuatta75802 жыл бұрын
@@FisdomOfficial thank you !
@sidneebraden42772 жыл бұрын
ρɾσɱσʂɱ
@chandramohandamodaran99882 жыл бұрын
For a Pan India program, keep the talk in English. Else it is useless.