New tax regime would be more beneficial to you. Tax calculation depends on the working of LTCG or STCG.
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Best way to Harvest Capital Gains on Debt MF for NRI
Hello All, Background: I am a NRI with no income in India. I have multiple investments in Debt Mutual Funds (MF) in India; some of which are now long-term (>3 yrs) while others are still under 3 yrs of holding period. Q: As I understand, LTCG on Debt MF is 20% (+Indexation) and STCG is as per the investor's tax slab. Given I am not having any income in India, can I sell some of my short-term Debt MF without attracting any tax? If yes, how much can I sell? Note that I am not in any requirement of money, however, looking for more tax efficient ways to harvest gains for Debt MF. Any inputs and correction in my understanding is highly appreciated.
Asked 2 years ago in Capital Gains Tax
Since you are selling shares and securities covering under 111A for short term capital gain. In my opinion you can sell MF with capital gain upto Rs. 2.5 lakh without paying any tax.
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