Income from Mutual Funds Held 72-186 Days Taxed as Capital Gains, Not Business Income.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Income earned profit on sale of mutual funds - capital gain OR business income - Holding period of the assessee is minimum of 72 days and maximum of 186 days - profit of sale of mutual fund earned by the assessee as chargeable to tax under the head capital gain and not as business income....