I am a salaried person . My questions : (1) while filling ITR , can I avail the benefit of indexation instead of Fair Market Value to calculate the LTCG against selling of some Equity Oriented Mutual Funds where STT have been paid ? (2) If it is allowed , then will I get the benefit u/s 112A of I.Tax ?
Hello @sandichu
You cannot avail the benefit of indexation while calculating LTCG on the sale of equity-oriented mutual funds where STT has been paid. Instead, gains are calculated using the FMV as of 31st January 2018 (if applicable).
Thank you .Can you please advise me where the benefit of indexation is applicable in the field of shares / mutual funds ?
Hello @sandichu ,
The benefit of indexation is not available on capital gains earned from sale of equity or equity oriented mutual funds.
Though one can claim the benefit of indexation only if the stocks/MFs were sold before 23rd July’24 and bought until 31st Jan’18. (Grandfathering rule)
Madam ,Thank you very much for your response .