taxes on capital gains after selling MFs

[Pahulpreet Kaur]

Am planning to sell some MFs which I am holding in my portfolio for more than a year. The profit on those is less than 1 lakh, will there be any tax I have to pay on it? I work as freelancer. Will it be counted in my taxable income

 

[17ysaurabh]

Since you have held the Mutual funds for more than 1 year, your capital gains will be subjected to Long Term Capital Gains (LTCG).
In LTCG, capital gains up to Rs 1 lakh are exempted from tax.
So, you don't need to pay any taxes.

 

[Akshay Bhatnagar]

What will happen when you sell International MF, how taxation work's?

 

[The INSANE Trader]

Am planning to sell some MFs which I am holding in my portfolio for more than a year. The profit on those is less than 1 lakh, will there be any tax I have to pay on it? I work as freelancer. Will it be counted in my taxable income

You can enjoy your profit tax free as it's less than 1lac.

 

[Prince]

Am planning to sell some MFs which I am holding in my portfolio for more than a year. The profit on those is less than 1 lakh, will there be any tax I have to pay on it? I work as freelancer. Will it be counted in my taxable income

Hie,
If the MF is under SIP, then it will be Long term Capital Gain and Short term Capital both, as per the Report.
Further if its one time investment then it will be LTCG, exempt upto 1 Lacs, taxable @10%.
and Since your are a freelancer, you need to manage the taxes, as per your income. In case you want professional help, you can connect with me, wrt to fillings and enjoying tax benefits as per Income tax rules., there are many sections which help freelancers for availing benefits.