Is capital gain on redemption of ELSS after 3 years taxable ?



DEAR SIR MY TAXABLE INCOME FROM SALARY FOR THE ASS YEAR 2011–12 IS RS. 24442 AND I HAD PAID ADVANCE TAX RS.2550 I HAVE ALSO REDEEMED RS 1,24 221 ON 06-12-2010 OUT OF INVESTMENT OF RS. 70,000 MADE ON 23–03–2007 IN ICICI PRUDENTIAL TAX–GROWTH –ELSS TAX SAVING SCHEME . I REQUEST YOU TO LET ME KNOW HOW MUCH CAPITAL GAINS TAX I HAVE TO PAY FOR THE ASS YEAR 2011-12 THANK YOU

Is capital gain on redemption of ELSS after 3 years taxable ?
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One Reply to “Is capital gain on redemption of ELSS after 3 years taxable ?”

  1. I hope ELSS investment were made by in units. Since you have redeemed these investment after 12 months after purchase which is called long term capital assets and profit on such long term capital assets is free from income tax.





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