# NAV of Mutual Funds on 31 Jan 2018 (FMV for Grandfathering of LTCG & Tax)

Why do you need the mutual fund NAVs of 31st January 2018?

Or as it is called as the Fair Market Value (FMV) of Mutual Fund NAV as on 31st Jnuary 2018.

Its because in the Budget 2018, a 10% Long Term Capital Gains Tax (without indexation) on Equity – on capital gains exceeding Rs One lakh from all direct equity and equity mutual funds, has been announced and implemented from 1st April 2018.

However, all long term capital gains (profits) up to 31st January 2018 will be grandfathered. This means that for a person selling after 31st March 2018, only the gains after 31st January 2018 would be taxed.

But first, let see a small example of how to calculate long term capital gains on equity mutual funds, to understand why NAV of 31 Jan 2018 is required:

• Suppose you invest in equity fund on 27th October 2016 at NAV of Rs 100.
• On 31st Jan 2018, its NAV is Rs 155
• You sell your equity fund units on 3rd April 2019 at an NAV of Rs 186.
• Your actual cost of acquisition is Rs 100. But for the purpose of LTCG calculation with grandfathering effect, the effective cost of acquisition is Rs 155.
• The long term capital gains will be Rs 31 (i.e. Rs 186 – Rs 155)
• LTCG Tax will be 10% of Rs 31 = Rs 3.1
• Also, if the total long term capital gains does not exceed Rs 1 lakh in a year, then you don’t need to pay any tax. Only the amount that exceeds Rs 1 lakh will be taxed at 10%.
• For example, suppose you sell 2000 units at NAV of Rs 186, then your total long term capital gains is Rs 31 x 2000 = Rs 62,000. Since this is less than Rs 1 lakh, there will be not LTCG tax on this.
• On the other hand, suppose you sell 5000 units at NAV of Rs 186, then your total long term capital gains is Rs 31 x 5000 = Rs 1,55,000. Since this is more than Rs 1 lakh, the LTCG tax will be on amount above Rs 1 lakh, i.e. 10% on Rs 55,000 = Rs 5500 (10% on Rs 1.55 lakh – Rs 1 lakh).

This is how to Calculate Long Term Capital Gains and long term capital gains tax on equity funds for which STT has been paid.

So if you have invested in equity funds before 31st January 2018, then the NAV of mutual funds on 31st Jan 2018 will be required for calculation of grandfathering of long term capital gains.

There are many ways to find the required NAVs:

You can use this link on AMFI’s website to find mutual fund NAVs.

Or you can download an excel with all NAVs of mutual funds on 31st January 2018 using the link below:

### Download Excel (FREE) Fair Market Value (FMV) – NAV Mutual Funds 31 Jan 2018

Or simply go through the list below to find out the NAV of your chosen fund (note – this list has thousands of funds so you can use Ctrl+F or Command+F to search for the exact fund)

NAV of Equity Mutual Funds on 31st January 2018

All the NAVs of Mutual Fund scheme as on 31st January 2018 are given below in alphabetical order of Fund Houses (AMCs):