Does a mutual fund / index fund investment attract LTCG or STCG if both the capital and profit is reinvested within the same year and within the same scheme of its initial redemption?
Example:
I invest 10 lakh in nifty index mutual fund in year January 2019 and I redeemed 12 lakh (2 lakh profit) in the same year in November 2019, I reinvested the 12 lakh in the same scheme during December 2019 when the index was at its bottom. In such case I would not be having any cash with me for that year. Do I still have to pay any LTCG OR STCG for the year 2019?
Thanks in advance.
Example:
I invest 10 lakh in nifty index mutual fund in year January 2019 and I redeemed 12 lakh (2 lakh profit) in the same year in November 2019, I reinvested the 12 lakh in the same scheme during December 2019 when the index was at its bottom. In such case I would not be having any cash with me for that year. Do I still have to pay any LTCG OR STCG for the year 2019?
Thanks in advance.