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I sold some mutual fund units in less than a year & need to compute my short term capital gains.How do i do it |
I sold some mutual fund units in less than a year & need to compute my short term capital gains.How do i do it Short term gains are taxed at the regular tax rate, just like interest and dividends. To compute gain, subtract orignial cost, brokerage fees and "reinvested dividends" from net sales proceeds. Your broker should provide a statement. Your question is incomplete as you have not stated if any of mutual fund was exempt from income tax or not. Also you have not provided information whether any income tax was deducted at source or not by the Mutual Fund company on any of the mutual fund scheme. Anyway the formula to compute capital gains is as follows: CAPITAL GAIN = Value of transfer/sale of the MF --(minus) Acquisition cost. |
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