doubt regarding taxation on debt funds

56°
Benevolent
kukdookoo

last year i think from 1st april 2023 (please correct me where i am wrong), for debt funds especially fof's or funds with foreign holdings instead the ltcg of 20% was abolished and they were to be taxed as per the slab. Is this correct? Was this applicable on few types of debt funds?

When they say taxed as per slab then suppose if a persons net income is 2 lakhs and profit from debt funds is 50k. then total taxable income of the person will be 2.50 lacs?

the tax changes made in july, 2024. considering them how will the debt funds mentioned above will be taxed now?

any good guide or thread which explains taxation on all mutual funds in a simple way as per the latest rules?

@Rajkotian @Watcher @legend101 @guest_999 @Ramta_Jogi

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Deal Cadet Deal Cadet
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1. If purchased before 31 march 2023 then LTCG ( 3 years)  tax will be 20% with indexation.

2. If purchased after 31 march 2023, all debt funds will be taxed as slab rate. ( Added to your income and taxed based on your slab).

Benevolent Benevolent
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all types of debt funds are covered under this? fof, foreign etc.?
what about changes after july, 2024?
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Deal Cadet Deal Cadet
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July 2024: no change in debt fund taxation

Deal Subedar Deal Subedar
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From budget March 2024,  I think FOF and International funds are considered debt funds and need to be paid as tax per salary slab.

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