Sir,
I invested rs.100000 in uti balance fund in 15th jan,2017. Now I want to redeem the fund and invest in hdfc balance fund in july 10-15th. So what will be the stcg and what amount I have to pay the income tax purpose? Plz help me.
1 Answers
Hi,
UTI balance fund is an equity oriented scheme. If you redeem the units within 12 months from the date of purchase, then taxes on STCG (if any) at the rate of 15% is applicable.
For ex: if you redeem the units for Rs 1,05,000 then Rs 5,000 would be your STCG. 15% on Rs 5,000 is payable as taxes.
Also, watch out for Exit load. For units in excess of 10% of the investment,1% will be charged for redemption within 365 days
Kindly read :
https://www.relakhs.com/mutual-funds-taxation-rules-capital-gains-tax-rates-on-mfs-fy-201516/
https://www.relakhs.com/best-balanced-mutual-fund-schemes-review/
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