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Anil

Anil Rego  |377 Answers  |Ask -

Financial Planner - Answered on May 31, 2021

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Satyanarayana Question by Satyanarayana on May 31, 2021Hindi
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I have purchased some units of an Equity MF in the year 2016-17. Now, I would like to redeem them, through which I may make a good profit.

I need clarification regarding calculation of long term capital gains, as long term capital gains tax was not in existence before 31st Jan, 2018.

(i) Should I take the NAV as on 31st Jan, 2018 as the cost price for calculation (as then FM declared during budget speech), or

(ii) the NAV price at the time of purchase?

First option is beneficial to me. Please advice.

Ans: Equity mutual funds or stocks which are held more than 12 months are considered as long-term capital gains. The Govt. introduced LTCG TAX of 10% in 2018, if the gain exceeds Rs 100,000.

As per the 2018-19 budget, since there was no tax payable on long term capital gains earlier, it allowed for grandfathering. ie. The gains only after a cutoff date of 31st January 2018 will be considered. Thus, you need to take the NAV as on 31st Jan, 2018 as the cost of purchase.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Hello sir, I am a 11th grade student. Now iam very confused amd depressed that what should i study now. Let me tell my goals. 1st thing is i want to get top 3 rank in my school examination and 2nd is to prepare for JEE MAIN examination and 3rd is to complete 12th std portions before May month 2025 to score a very good mark in my 12th board examination at 2026. And i also need to complete my JEE MAINS portions before november month for my Jee mains examination which is at Jan month and i need to crack it with 99 percentile at my first attempt and get into any one of the prestigious colleges. But iam very confused that what engineering should i choose. According to me I love all the engineering fields but i need to choose a field which will give the highest salary.These are the things that are revolving in my mind. Can you please give me perfect solution for my 5 confusions..
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Without taking an examination, without any score in hand, without any college in hand, without any course in hand, you are thinking and thinking and thinking for no reason. The goals/targets set by you are appreciable. But to convert them into reality, you have to work hard and excel in all the examinations. The highest salary is not only based on your degree or only on the college name. There are a lot of other parameters. Your journey is very long. Please keep your eyes only on your studies. Crack JEE (Mains + Adv) with a high score, get admission to a top IIT college, and choose the best course of your liking. Excel in the engineering then test the flavour of success. Best of luck for your upcoming bright future.

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