Is there any short term capital gains tax on ICICI Prudential Banking and PSU debt fund

Yes, there is a short term capital gains tax in case of this fund or for that matter any debt fund. The profits made on investment of this fund (even on all debt funds and hybrid debt funds) within 3 years will be treated as short term capital gains and taxed according to your income tax slab.

But mutual fund debt funds are more tax efficient than fixed deposits which you can check here https://www.advisorkhoj.com/mutual-funds...

To know more about mutual fund taxation, do read this https://www.advisorkhoj.com/rmf...

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