Friday, April 10, 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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Share sale by Passive Shareholder taxable as Long-Term Capital Gains and not Business Income irrespective of non-compete clause in the SPA

  As per Income Tax Laws, any sum received or receivable in cash or kind under an agreement for not carrying business or profession is treat...