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Redemption of units of mutual funds - capital gain or business income - the intention for purchase of mutual funds was only for the purpose of investment and held for benefits accruing thereon - Though the mutual funds are for a period less than 12 months, redemption of units of mutual funds is to be taxed as capital gains and not as business.

Income Tax
October 23, 2018

Redemption of units of mutual funds - capital gain or business income - the intention for purchase of mutual funds was only for the purpose of investment and held for benefits accruing thereon - Though the mutual funds are for a period less than 12 months, redemption of units of mutual funds is to be taxed as capital gains and not as business.

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