ELSS RETUTNS

sreenu_639 1
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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)..?

elss mutual-fund direct-tax-code tax-saving dtc income-tax
1 Answers

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.

Pankaj Batra5212
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