Answer

1. F

   Facts

   Gains on specified mutual funds, mainly debt funds with 35% or less in equity, bought on or after 1 April 2023 are treated as short term whatever the holding. They are taxed at your slab rate. Funds bought earlier follow the normal holding rules.

2. P

   Provisions and law

   • Sec 50AA (now Sec 76)Gains on specified mutual funds and market linked debentures are short term whatever the holding period
   • Sec 2(42A) (now Sec 2(101))Holding period: 12 months for listed securities and units, 24 months for other assets, to be long term
3. A

   Analysis

   Sec 50AA (now Sec 76) deems these gains short term, so a ₹60,000 gain is added to your income and taxed at, say, 30% plus cess, about ₹18,720. Debt fund units bought before 1 April 2023 and held more than 24 months are long term and, for transfers after 23 July 2024, taxed at 12.5% without indexation. Your fund statement should show purchase dates to split them. Report them in the right part of Schedule CG.

4. C

   Conclusion

   1. 1Check purchase dates of each debt fund unit.
   2. 2Treat units bought from 1 April 2023 as short term at slab.
   3. 3Treat older units by holding period.
   4. 4Report each in the right row of Schedule CG.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.