INTERVIEW QUESTIONS INVESTMENT MUTUAL FUNDS DETAILS

Question: Is there an easy way to check taxation liability for mutual fund Sips?

Answer: Every unit of mutual fund comes with a date of allocation of the net asset value for that particular unit. For example if you have 60 installments or SIPs, you would have 60 unique blocks in the folio. Calculation of tax must be done by checking the one year or 12 month limit for each such block. If you sell the entire holding in the mutual fund, you will need to determine the number of units that were long term ones and the number of short term units.

Every unit of mutual fund comes with a date of allocation of the net asset value for that particular unit. For example if you have 60 installments or SIPs, you would have 60 unique blocks in the folio. Calculation of tax must be done by checking the one year or 12 month limit for each such block. If you sell the entire holding in the mutual fund, you will need to determine the number of units that were long term ones and the number of short term units. Source: CoolInterview.com

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