Gains realized from debt funds having tenure of less than 3 years are considered as short term capital gains
The gains you make on the NAV of the fund will be treated as short term capital gains and you will have to pay tax on it at 10 per cent, your tax slab rate. Gains realized from debt funds having a tenure of less than three years are considered as short term capital gains according to current tax laws, which came into effect last year. You cannot avail double indexation benefits due to the change in tax laws.
An investor cannot extend his term in a closed-ended fund. However, the AMC may choose to roll over the fund and extend its maturity. In such a case, the fund will write to you asking if you would like to rollover. You can opt for rollover if you don't need the money immediately. It is also tax efficient to rollover FMPs so that your holding period is at least 3 years.
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
Invest in Tax Saver Mutual Funds Online -
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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