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TMI BlogApplicability of capital gainX X X X Extracts X X X X X X X X Extracts X X X X ..... Whether switching to another find in mutual fund for a portfolio leads to transfer and to invite capital gain or loss even if no transaction takes place? - Reply By CA GOPAL JI AGRAWAL - The Reply = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No,since for transfer, there must be two parties, transferer and transferee hence one can not transfer any asset to oneself. - Reply By DEV KUMAR KOTHARI - The Reply = If a unit holder switches from X ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... units to Y unit- there is exchnage involving two transactions - sale of X unit and purchase of Y unit. Therefore, computation of profit or loss or capital gain or loss has to be made for transfer of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... X unit. Consideration being agreed value of Y units acquired in exchnage of X. In case there is a conversion by MF, then matter can be different, in that case the cost of original units will become c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ost of new units and the period of holding will be reckoned from date of acquisition of old units. - Reply By V Ramanujam - The Reply = Switching of fund scheme even within the Fund is also equal to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ransfer and would attract capital gains/loss provisions. - Applicability of capital gain - Query Started By: - DEBABRATA ROY Dated:- 2-8-2008 Income Tax - Got 3 Replies - Income Tax - Discussion For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... um - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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