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Tuesday, December 22, 2015

Tax Free Bonds Capital Gains / Loss

 Short term capital gains are added to the income and taxed as per the Income Tax slab applicable to the investor
 Tax-free bonds typically come with a lock-in period of 10 to 20 years. The amount invested in these bonds are not returned before the end of the lock-in period. However, these bonds are listed on stock exchanges and investors can sell them on exchanges if they want to exit early. The gains, if any, on sale of these bonds would be taxed as capital gains.
 
If the bonds are sold before three years, the gains would be treated as short term capital gains. Short term capital gains are added to the income and taxed as per the Income Tax slab applicable to the investor. If investments are sold after three years, the gains qualify for long term capital gains tax of 20 per cent with indexation benefit. Long term capital loss arising out of sale of assets can be set off against long term capital gains arising from sale of any asset. However, long term capital loss from sale of shares and mutual funds where Securities Transaction Tax (STT) is paid can't be set off against any other capital gains. Long term capital loss can be carried forward for eight years.

Best Tax Saver Mutual Funds 2016 or ELSS Mutual Funds for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. IDFC Tax Advantage (ELSS) Fund

4. ICICI Prudential Long Term Equity Fund

5. Religare Tax Plan

6. Franklin India TaxShield

7. DSP BlackRock Tax Saver Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. HDFC TaxSaver

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online

Invest in Tax Saver Mutual Funds Online

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