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What is grandfathering clause for Equity Mutual Funds?

Thursday, August 16, 2018 by Indian Real Estate News

Best SIP Funds to Invest Online 


Since 1 April, 2018, long-term capital gains (LTCG) made on redemption of equity mutual funds have been subject to 10% tax. 

The tax is applicable on LTCG made by the investor over and above Rs 1 lakh a year. 

However, the LTCG made till 31 January, 2018, have been grandfathered, so the gains will remain tax-exempt. 


In case of units purchased before 1 February, 2018, cost of acquisition will be considered as the higher of the actual cost of acquisition, or the NAV as on 31 January 2018. 

If the sale consideration (NAV for redemption) is lower than the NAV on 31 January 2018, the sale consideration will be considered instead of NAV. 



 





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