WebMar 18, 2024 · Indexed cost = (CII for the year of sale/ CII for the year of purchase) X (Cost of purchase) For instance, if you had invested Rs 1 lakh in debt mutual fund scheme in Aug’16 and redeemed those ... WebMar 24, 2024 · The Bill is going to be taken up for approval in the Lok Sabha as early as Friday. The BT report says that the move will erase the advantages of mutual funds over fixed deposits. As of now, debt mutual funds are treated as long-term investments if held for more than 3 years. Long-term capital gains are taxed at 20 power cent with …

Decoding Finance Bill proposals for debt funds: What remains …

WebApr 14, 2024 · Recently the government removed the Indexation benefits on the long-term capital gains (LTCG) on debt mutual funds and announced that debt mutual funds … WebApr 6, 2024 · Just before the passing of this year's budget on March 24, the government has included an amendment that eliminates indexation benefits for investments in debt funds, gold funds, and certain types of hybrid mutual funds. As a result, mutual funds with less than 35 per cent domestic equity component will not qualify for capital gains. humanism and gothic period

Why debt mutual funds saw highest outlows in six months in March

WebJan 12, 2024 · However, the tax will be calculated and payable on the indexed capital gains and not the actual capital gains of Rs. 10,000. Thus, using the formula for indexation: … WebApr 11, 2024 · The income tax department has notified the cost inflation index (CII) number for the current financial year. The CII number is used to arrive at the inflation-adjusted price of an asset. The capital gains that are chargeable to income tax are lowered using the indexation benefit. From FY 2024-24, the indexation benefit has been removed from … holland produce suffolk va