Quick reckoner for income tax rates for Capital Gains on Equity & Debt Mutual Funds

Below are the income tax rates, if you have sold Equity or Debt Mutual Funds during the financial year 2014-15.

Hopefully with these you be able to calculate your Capital Gains – you can always write to us support@cleartax.in and our experts will help you with the calculations.

Long Term Capital Gains Short Term Capital Gains
(held for more than 1 year) (held for less than 1 year)
Equity Mutual Funds Exempt 15%
where STT is paid
Debt Mutual Funds
Long Term Capital Gains Short Term Capital Gains
(held for more than 1 year) (held for less than 1 year)
If units are transferred on or after 1.4.2014 but before 11.7.2014 10% without indexation or 20% with indexation whichever is lower at income tax slab rates
     
Debt Mutual Funds
Long Term Capital Gains Short Term Capital Gains
(held for more than 3 years) (held for less than 3 years)
If units are transferred on or after 11.7.2014 at 20% with indexation at income tax slab rates

 

2 Responses to Quick reckoner for income tax rates for Capital Gains on Equity & Debt Mutual Funds

  1. Santosh Iyer July 13, 2015 at 6:38 pm #

    I have a query. A debt mutual fund is sold after 3 years.
    There is capital gains, but on applying indexation it becomes a loss. Can I treat it as long term capital loss ?

    • cleartax-team July 13, 2015 at 8:52 pm #

      The period of 3 years shall be applicable if you have sold it post 11.07.2014.
      Yes, this shall be a long term capital loss and can be set off against gains and then allowed to be carried forward in the ITR. To consult an expert to help you with calculations using all facts, write to us support@cleartax.in