We can switch our investments from equity fund to debt fund in the same fund house and normally it would not attract any exit or entry load. Will there be any long term or short term capital gains in this case? For example, assume that I have invested 100000 INR in equity fund on 01-01-2010 and on 01-06-2010 the portfolio value is 120000 INR (20% gain within a year). If I transfer 120000 INR to a debt fund with the same fund house, what are the tax implications? I assume that there is nothing. Alternatively what is the tax implication in the other case from debt to equity?
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