MF redemption - Taxation

[ismail.rajiwate]

Hi,
I have an investment in MF (SBI Infrastructure (G)) of Rs. 75,000.00 since 06-July-2007, If I redeem today how much tax will be deducted and is there any other charges on redemption and as of 4th Oct 18 how much I will get ? Please advice.
Thanks
Ismail

 

[canikhil]

that depends on what is the value of your investment as on the date of redemption.

 

[ismail.rajiwate]

Let us consider IRS 113000. please let me know how much i will get the redemption amount along with tax deductions. thanks Ismail

 

[FnOtrader80]

Let us consider IRS 113000. please let me know how much i will get the redemption amount along with tax deductions. thanks Ismail

There will not be any tax deduction. Calculate the difference between nav on 31/01/2018 (Grandfather clause) minus 1,13,000 = Your long term capital gain which is tax free upto Rs, 1 Lac per annum anything more than that will attact 10 % capital gains on gains above exempt limit of 1,00,000. In short if your total capital gains will be less than 1 lakh in this year you dont have to pay any long term capital gain tax but you will have to show the long term capital gain under exempt income section when you file your income tax return next year. Hope this helps.

ps: Download you account statement from SBI mutual fund at the end of this financial year , it will clearly reflect all the gain /losses for taxation purpose clearly.