POSTED BY January 21, 2014 11:46 am COMMENTS (4)ON
I have set up an STP from Quantum liquid fund to QLTE fund. I recently downloaded the capital gains statement from their website. It shows a short term gain of about Rs. 400 from the redemption of units in the liquid fund. The redemption proceeds were used to buy units in the QLTE fund.
Do I need to show this gain in the IT return and pay tax? How is the tax computed?
Is there any legal way to find an exemption?