I had invested Rs.150,000/- by SIP in a Equity Mutual Fund in six installments of Rs.25,000/- each. The SIP transaction dates are as follows:-23.3.06,10.4.06,10.5.06,12.6.06,10.7.06 & 10.8.06 A dividend of Rs.6/- per unit was received on 19.7.06. Subsequently I redeemed all the units on 14.9.06. On an overall basis I have incurred a capital loss of Rs.17,286.77. However against some of these instalments I have made gain. The amounts received on redemption of these instalments are Rs.20271.92,18975.85, 18239.36, 25078.66, 24001.59 & 26146.45 respectively after STT.
Subsequently I have made some short term capital gain on redemption of a another Equity Fund. My questions are:-
1. Can I offset this ST Capital Gain against the above ST Capital loss. 2. Do I need to pay ST Capital Gain Tax for gains made in case of some of the SIP instalments though there is an overall loss i.e. will each SIP instalment be treated as a separate investment.
I will be grateful for your advise. My e mail address is : shamins@rediffmail.com
