doubt regarding taxation on debt funds
last year i think from 1st april 2023 (please correct me where i am wrong), for debt funds especially fof's or funds with foreign holdings instead the ltcg of 20% was abolished and they were to be taxed as per the slab. Is this correct? Was this applicable on few types of debt funds?
When they say taxed as per slab then suppose if a persons net income is 2 lakhs and profit from debt funds is 50k. then total taxable income of the person will be 2.50 lacs?
the tax changes made in july, 2024. considering them how will the debt funds mentioned above will be taxed now?
any good guide or thread which explains taxation on all mutual funds in a simple way as per the latest rules?
@Rajkotian @Watcher @legend101 @guest_999 @Ramta_Jogi
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what about changes after july, 2024?
This is a good read,
https://www.bajajfinserv.in/investments/taxatio....
Have good tables with imp info.
1. If purchased before 31 march 2023 then LTCG ( 3 years) tax will be 20% with indexation.
2. If purchased after 31 march 2023, all debt funds will be taxed as slab rate. ( Added to your income and taxed based on your slab).