What are the tax implications on equity mutual funds? Is there any tax liability if I book losses?
- Deepak Garg
In case of equity mutual fund investments, you pay tax only on short-term capital gains. The current tax rate is 15 per cent on the amount of gain if the fund is sold within one year. If the instrument is held for a year, there is no tax liability. In case of a loss (irrespective of the period of holding), you are not liable to any tax.
This article was originally published on July 07, 2011.
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