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LTCG Equity Mutual Fund Redemption Gains: Is the 1 Lakh Exemption Gone?

Vivek Lala | Answer |Ask -Follow

Tax, MF Expert - Answered on Aug 11, 2024

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more

Asked by Anonymous - Jul 19, 2024Hindi

Money

Want to know whether the one lakh exemption limit is now not available on LTCG Equity oriented mutual fund redemption gains (AY 2024-25) per 112A.

Ans: AY 24-25 is 1L , for AY 25-26 its 1.25L

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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Question by mathewkutty - Aug 19, 2024Hindi

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Good morning sir. I wish to know that 1lac Ltcg tax exemption is available suppose you are having 10 lac total income means whatever income we are having 1 lac excemption is there or not. Please confirm. Thanks

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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