Regarding US Mutual Funds sold by Indian AMCs

[BB789]

24m, 12.5%, Slab

Based on

Nasdaq 100 ETF taxation

Since Quicko and Motilal have given confusing and conflicting details, I decided to dig into the tax laws and acts and I’m going to exactly quote the section responsible for the current tax rate. Duration(Holding period for classification into long term/ short term): This is decided by Section 2(42A),which currently states every asset <24m is a short term asset except a few. These exceptions decide whether a lesser holding period <12m is applicable for a asset. Provided that in the case of …