i am not earning right now just started investing in mutual fund via pocket money so i started investing in a mutual fund but after 3 sips(each of 1000 rupees) I closed that mutual fund sip and then redeemed it. the total value of redemption was 3100 rupees. so my question is will i have to pay tax on this 3100 rupees or is it non taxable?
You have to pay taxes only on income. You invested 3k and sold it at 3.1k. So the Taxable amount is 100rs and not 3100.
Taxes are applicable at slabs.
I am not earning right now so i guess i don’t fall into any income tax slab. so will i have to pay tax on this 100 rupees?