Friday 10 April 2015

Circular On Taxation Of Capital Gains On Redemption Of Mutual Fund FMP Units

The CBDT has issued a Circular bearing No. 6 of 2015 and dated 9th April 2015 explaining the implication of capital gains in respect of units of Mutual Funds under the Fixed Maturity Plans on extension of their term.

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Mumbai Tribunal rules premium received on redemption of debentures is taxable as interest and not “capital gains”

  This Tax Alert summarizes a recent ruling of the Mumbai Income Tax Appellate Tribunal (ITAT), in the case of Khushaal C. Thackersey  (Taxp...