Long term capital gain faiz, 25 Feb 2013

I,ve made a switch from one equity fund scheme to another. So,will long term capital gain valid from original purchase date or from switch date?

Fintotal Answer

When you sell the second fund you switched to, capital gains will be calculated from the date of switching. Switching is considered as redeeming for tax purpose. If you made the switch after initially holding it for 365 days no tax is to be paid since long term capital gains on equity funds are tax free. If you held it for less than a year you would have to pay short term capital gains for this switch.

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