(xix) Amount paid as subscription to any units of any mutual fund In case such unit scheme of mutual funds is notified by CBDT, the amount so invested shall qualify for deduction u/s 80C, The amount so invested in on which deduction is claimed shall not qualify for exemption of capital...
Section 112 is applicable for long-term capital gains on the sale of any capital assets except Listed equity shares in addition to equity-oriented schemes of mutual funds.) The aforesaid rebate is also available against an individual’s tax liability for short-term capital gains on listed equity...
However, the exemption would not be allowed on the transfer of a unit of the Administrator of the undertaking, company or mutual fund. Moreover, ‘Administrator’ would mean the Administrator as referred under Section 2(a) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act,...