How to calculate and pay Capital Gain Tax ?

POSTED BY Indrajit Ghosh ON January 15, 2015 4:34 pm ONE COMMENT

Hi Everybody,

I am a 28 years old salaried govt. employee and my yearly salary is 5.5 Lac. As per my Tax bracket my employer deduct Tax every month from my salary.

Now, i have some questions:-

I have invested some amount in Mutual Fund. As per MF account statement /portfolio it shows:-

(1) ICICI Focussed Bluechip Fund-Regular (G)

Amount Invested= 53430, Market value= 73949.

Short Term  Gain= 3732 and Long term Gain= 16787

(2) ICICI Pru Gold Savings- Direct (G)

Amount Invested= 47500, Market value= 44669.

Short Term  Loss= 2831.

I want to redeem both my fund due to some urgent need of money. I want to know how will I have to pay Tax on the capital gain/loss? How will i calculate the capital gain/loss and where should I have to pay my taxes? Should i show my gain to my employer(if yes then how?) or will I have to pay at the Income tax office? As per the above investment how much is the tax to be paid?

Kindly provide some solution. Thank You.

One reply on this article “How to calculate and pay Capital Gain Tax ?”

  1. Nikhil says:

    Very simple:
    NO TAX on long term gain
    15% on short term gain

    TIP: Sell only those units which give you long term gain and keep the ones with short term gain. If that money can resolve your finance crunch; HURRAY!
    Wait for sometime, after that your short term gain would be long term and hence NO tax.

    On gold fund, you have to pay tax. Refer some article or website for details.

    PS: Selling withing one year is short term; after one year it is long term.

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