Wednesday, January 21, 2015

Long term Equity profits are Tax Free

Equity mutual funds do not attract any long-term capital gains tax, so your entire gains are tax-free

 

Equity mutual funds do not attract any long term capital gains tax. So if you sell your units after a holding period of a year, then you are liable to pay no tax on your gains.

 

This is irrespective of the tax slab you fall in. You would have had to pay a short term capital gains tax of 15 per cent in case you held your investments for less than an year. You are required to declare all your capital gains under the head 'Income from capital gains' while filing your income tax returns.

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

Invest in Tax Saver Mutual Funds Online -

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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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