Quote Originally Posted by Sharma View Post
Can anyone tell me - what are the tax benefits available while investing and selling units in MFs. I know the tax benefits of ELSS but apart from that are there any tax benefits on any regular MFs. Also are the returns on ELSS taxable? As far as I know, they are not, under section 10(10D).
One more point - If you hold your equity mutul fund units for 365 days, it will be treated as long term capital gain which is tax free & if you withdraw before 365 days you have to pay short term capital gains which is 10% of your gain.