Short-term capital gains from debt mutual funds are added to your income and taxed accordingly
Capital gains on redemption in liquid funds in three to six months will be added to your income and taxed as per the applicable income tax slab. You need to show it as income while filing ITR. It will not be taxed automatically. It is the responsibility of the investor to pay tax on capital gains.
Current taxation on non-equity investments is given below:
| Investment holding period | Taxation |
| Short Term Capital Gain | 36 months or lesser | added to income and taxed as per applicable slab rate |
| Long Term Capital Gain | more than 36 months | 20% with indexation |
Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
Invest in Tax Saver Mutual Funds Online -
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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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