I have a doubt.
Suppose the total investment in a mutual fund is 2 lakh.The current value is 4 lakh.
LTCG (Long Term Capital Gains) tax applies to gains above 1 lakh, and if I want to do tax harvesting to avoid paying any tax, how much amount do I need to sell?
If I sell the entire investment, I will have a profit of 2 lakh. Out of this, there will be no tax on the first 1 lakh, but I will have to pay 10% tax on the remaining 1 lakh.
Suppose the total investment in a mutual fund is 2 lakh.The current value is 4 lakh.
LTCG (Long Term Capital Gains) tax applies to gains above 1 lakh, and if I want to do tax harvesting to avoid paying any tax, how much amount do I need to sell?
If I sell the entire investment, I will have a profit of 2 lakh. Out of this, there will be no tax on the first 1 lakh, but I will have to pay 10% tax on the remaining 1 lakh.
