LONG TERM CAPITAL GAIN TAX

MAGDOOM 1
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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

mutual-fund tax-saving income-tax
1 Answers

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.

Pankaj Batra5212
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