The tax liability of a PMS investor would be the same as that of an individual investor directly accessing the capital markets.
The gains will be classified in the following manner:
Income Head : Business income/ Capital gains
- Long Term (holding period >12 Months) ( In budget 2018, LTCG 10% applicable above the gain of one lakh in a financial year.)
- Short Term (holding period <12 Months) ( STCG 15%)