I do SIPs in six equity mutual fund schemes that amount to Rs1.8 lakh a month (Rs21.6 lakh a year). This income may have been earned from any source, including income from sale of mutual funds. Till 31 March 2018, income from sale of equity mutual funds held for more than a year is exempt from tax. LTCG tax will have to be paid on sale of equity mutual funds made on or after 1 April 2018, where these were held for more than 1 year. Also note that TDS is not applicable on sale of equity mutual funds, therefore tax on this transaction will not be reflected in your Form 26AS.

Source: Mint March 12, 2018 11:48 UTC