Mutual Funds taxation 2024

If mutual fund sip or lump sum investments are done, and the investor sells after 1 year from the purchase date, long term capital gain tax will be applicable.  From Tuesday, July 23, 2024, the tax rate is 12.5%, if your total long term capital gain exceeds 1.25 lakh. The LTCG tax rate was hiked to 12.5 percent from 10 percent on all financial and non-financial assets. Any cess/surcharge is not included. If sold before 1 year from the purchase date, short term capital gain tax will be applicable. Current tax rate is 20%. Any cess/surcharge is not included in the 20%.

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