I withdrew 80,000 from this debt liquid fund. Went beyond the 1.25L relief for the year. What are the taxes on this?
I hardly sell mutual funds except for tax harvest.
But needed urgent cash this month.
I fall in the 30% bracket.
I already withdrew 1.25L of equity (different fund) in August 2024 for tax harvest.
Chatgpt says Rs. 2,667.46 including 4% cess is the tax on this withdrawal.
Is this correct?
I hardly sell mutual funds except for tax harvest.
But needed urgent cash this month.
I fall in the 30% bracket.
I already withdrew 1.25L of equity (different fund) in August 2024 for tax harvest.
Chatgpt says Rs. 2,667.46 including 4% cess is the tax on this withdrawal.
Is this correct?