Tax Liability on LTCG from sale of Equity Mutual Funds

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  1. Confused Ann

    Confused Ann New Member

    Hello Karan,

    I am an overseas citizen of India (OCI) . I have in August 2016 sold several equity mutual funds. All of them were held for longer than 12 months so I believe no tax is payable. I have paid STT on the sale transactions. I realized a total long-term capital gain of approx. Rs.4 lakhs. I have no other income earned in India. My total income for FY 2016-17 will be from capital gains.
    So, do I have a tax liability for FY2016-17 or no?

    Thank you in advance for your response.
     
  2. Monica1990

    Monica1990 New Member

    None whatsoever!

    Zero tax liability.
     
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