Fund Genius

Now pay ₹0 tax on gain on sale of mutual funds with this simple hack.

According to Section 54F of Income tax act, taxpayers can exempt themselves from longterm capital gain tax on mutual funds when they use the proceeds to buy residential property or construct a residential house but this act comes with the following conditions:

1. Capital gain must be from sale of any asset other than a residential house (e.g., mutual funds, shares, land).
2. Exemption allowed only if you buy/construct ONE residential house in India.
3. Purchase within 1 year before or 2 years after the sale; Construction within 3 years.
4 You must not own more than 1 residential house on the date of sale.
5. Do not buy another house within 2 years or construct another within 3 years.
6. Entire net consideration must be invested; else exemption is proportionate.
7. Unutilised amount must be deposited in Capital Gains Account Scheme (CGAS) before return filing.