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How to make tax gains on stock market losses
October 23, 2008
Tax on investments in MFs
In the case of equity oriented mutual funds with growth option, no dividends are declared, and the tax obligation arises only on sale of the units.
The capital gains tax arising from the sale may either be:
short-term capital gains taxable at 15% (chargeable to STT), or
long-term capital gains chargeable either at 10% (without benefit of indexation), or 20% with indexation if the sale is through unrecognised stock exchange.
In the case of sale through a recognised stock exchange, no tax is payable on long-term capital gains.
Tax on equity-oriented MFs ...
Image: A file photo of 2005 shows workers putting up an outdoor advertisement for a finance company in Mumbai. | Photograph: Indranil Mukherjee/AFP/Getty Images
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