Saikat Mitra asked on 16/11/2020

30% TDS on Debt fund as STCG & LTCG. Is it possible to get return when filling ITR if Income in India is below 5 lakh?

answered on 16/11/2020

The STCG on debt funds are deducted at 30% TDS but the tax liable is as per your tax slab. Therefore, you are entitled to a refund as per your tax slab.


For LTCG, 20% TDS is deducted and the tax liable on LTCG is also 20% along with indexation benefits. Therefore, in this case basic exemption limit is not available so you are not entitled to a refund.


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