I have invested in BSL Floating Rate ST-G and LIC Nomura MF Liquid-G. I want to know the tax liability on the gains if redemption is made within 12 months or later?- Raman Kumar
The short term capital gains (profits realised on a holding period of under one year) will be added to your income and taxed at the tax rate that you fall in. In case of long term capital gains, when the gain on holdings is over one year; it will be taxed at 20 per cent with indexation and at 10 per cent without indexation excluding the surcharge and education cess.
This article was originally published on August 11, 2011.
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