ltcg on mutual fund

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Last Comment 2024-08-22

2024-08-22

Guys as you know ltcg is now increased to 12.5% and exemption limit also increased to 1.25L

Let's say i invested 2L in July 2023 in MF and current value is 3.3L

1. So if I redeem now , how much tax I have to pay and till how much exemption I can get?

2. Is there any way to offset the gain through any means to save taxes? My friends were suggesting to invest through wife's account and save taxes but my understanding is taxes on mf/stocks must be paid irrespective of your income

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https://www.desidime.com/comments/permalink/10287507

rr134181534

2024-08-22

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So your LTCG is 1.3L ..With the new budget you get 1.25L benefit (earlier it used to be 1L only ) and you just need to pay 12.5% on remaining 5k --approx 625 as tax

https://www.desidime.com/comments/permalink/10287864

AzharKhan1

2024-08-22

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Thanks..this is what I wanted to know whether this new exemption limit applicable one year after 23jul 2024 or from now itself

https://www.desidime.com/comments/permalink/10288178

Imperial_Penny

2024-08-22

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See if there is exit load some MF have for 3 yrs most have for 1 yr which fund was this which gave 65% return. You can only offset it with loss see if other funds are in negative to do tax loss harvesting.