I have invested 25 lac in equity mutual fund through sip in past 7-8 years. How can I avoid LTCG on my profit? Can I transfer my investment on my parents with the nominee as myself?
Transfer (liquidate and invest in their name) must happen before 31st March 2018. Also, it is beneficial if your parents income and future gain from this investment falls below basic exemption limit (you may include additional Rs.1,00,000 tax-free LTCG income also). Otherwise, it is of no use. Also, you have to mention the ways of how you transferred and reasons like GIFT or WHAT? If it is through gift, then make sure the gift agreement should be there in place to avoid future tax complications.
Why I have to include Rs.100000 tax free LTCG in my parents income
Because the LTCG is applicable when your LTCG is more than Rs.1,00,000 from equity.
Can I invest on my sons name as a minor with guardian as my parents? To save LTCG applicable to me