Until financial year 2017-18, Long Term Capital Gain (LTCG) tax on equity or equity oriented mutual funds was Nil, i.e. if investors sold their shares or equity oriented mutual fund units after holding them for more than a year, they paid zero LTCG tax. All the gains (no matter the amount) were theirs to keep without […]
It’s important to understand which gifts are tax-free and which are considered a part of your income, making them liable for tax. Festive season is here, big and important festivals like Diwali & Christmas are waiting in line. Along with these festivals the wedding season is also going to start soon. While preparing for upcoming […]
Equity Linked Savings Scheme or ELSS is a mutual fund scheme which offers the best of both worlds: Long-term wealth creation & tax saving. ELSS serves as one of the best options for your goal of wealth creation and also acts as an effective instrument for tax saving. As the name suggests, ELSS is an […]
Let’s see how taxation works for income from mutual funds. Read the previous posts on my mutual funds series here. The profits that you earn from your mutual fund investments after selling your units is a form of income and hence will be taxed accordingly. Income earned by sale of mutual fund units come under […]
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