Capital gains tax

Income Tax Act 1961 Income from Capital Gains
1

Hi

I have booked long term capital gains in the below mentioned funds

Motilal Oswal Nasdaq 100 Fund of Fund - Direct Plan ( INF247L01718)

Motilal Oswal S and P 500 Index Fund - Direct Plan ( INF247L01AG2)

Would I be able to get the long term capital gain exemption of 1.25 lakhs for the above funds,if not what would be the tax for these schemes.

2

Hello @SURAG_M

The funds mentioned above are debt funds or have invested in foreign equities and hence the period of holding applicable is 24 months, if sold before 24 months from date of purchase then it would be STCG taxable at slab rates otherwise it would be treated as LTCG taxable at 12.5%.

The exemption of Rs.1.25 Lakhs is not availabe against above mentioned funds.

Hope this helps !!