LONG TERM CAPITAL GAIN TAX

DEAR SIR MY TAXABLE INCOME FROM SALARY FOR THE ASS YEAR 2011--12 IS RS. 24442 AND I HAD PAID ADVANCE TAX RS.2550 I HAVE ALSO REDEEMED RS 1,24 221 ON 06-12-2010 OUT OF INVESTMENT OF RS. 70,000 MADE ON 23--03--2007 IN ICICI PRUDENTIAL TAX--GROWTH --ELSS TAX SAVING SCHEME . I REQUEST YOU TO LET ME KNOW HOW MUCH CAPITAL GAINS TAX I HAVE TO PAY FOR THE ASS YEAR 2011-12 THANK YOU

asked Aug 22 '11 at 12:02 by MAGDOOM 1111


There won't be any income tax on gains from Tax saving mutual funds.

Gains from all equities linked investments (mutual funds and stocks), which have been atleast kept for a year and STT has been paid on transaction, is non-taxable.

answered Aug 23 '11 at 23:51 by pankaj 5.2k320

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Asked: Aug 22 '11 at 12:02

Seen: 1,205 times

Last updated: Aug 23 '11 at 23:51