I have been doing SIP in One largrcap and one midcap MF direct plans ffom 2017 which is now more than 5 lakh value. If due to some financial emergency I sell all units in both funds and redeem all my 5 lakh tomorrow itself, how will I pay LTCG ? Will the Asset management company cut tax before paying me the final amount OR will I full amount and to show it in my next IT return.?
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No. There is no TDS on selling mutual fund units.
You are supposed to compute your tax liability and pay the tax yourself.
You are supposed to pay the tax near to when you sold the units, not when you file the returns (which happens in the year after you sold the units). Ask Google about “advance payment of capital gains tax in India” and you can get the details.
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are you resident or non resident. If you are non resident, TDS will be deducted by the AMC.
Resident