LTCG on specified mutual funds

[Ramkumar Mishra]

My age is over 60 and below 80. I have units of hybrid debt fund purchased in 2011. If I sell the units now whether I can avail indexation benefit? What will be the rate of tax on the gains? If my income including the gain on sale of units and after all applicable deductions (old tax regime) is below Rs. 5,00,000/-, will I still have to pay tax on the gain on sale of units? Thanks.

 

AI Summary

Long-term capital gains tax: indexation availability and tax liability on sale of long held hybrid debt fund units. Whether sale of hybrid debt mutual fund units purchased in 2011 qualifies for indexation benefit on long term capital gains; what tax rate applies to those gains; and whether a taxpayer whose total income including the gain, after deductions under the old tax regime, falls below the stated exemption threshold must pay tax on the gain.