Hi Pankaj,

I invested in some ELSS funds two yrs back and can do the redemption next year november. So, the returnes amount is taxable even if i invested before DTC implementation. And supose if i invested 25,000 and when i withdraw the amount become 35,000. If it is taxabale only the gain is taxable or total amount..? In this case, total 30,000 is taxable or 10,000( Profit)..?

asked Sep 08 '11 at 12:14 by sreenu_639 1111

There won't be any income tax on the gains or total amount.

As these are equity mutual funds and if kept for more than a year, it becomes long term gain which is tax free.

answered Sep 08 '11 at 12:25 by pankaj 5.2k320


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Asked: Sep 08 '11 at 12:14

Seen: 3,136 times

Last updated: Sep 08 '11 at 12:25