05 August 2015
whether we have to show Investments in Monthly Income Plan while computing Income Tax? If i've a MIP investment of 5,00,000 at the begining of the year and its value on year ending increased to 6,50,000, whether i've to pay tax for increase in the value of investment or only need to pay when it sale?
05 August 2015
No, you do not have to pay tax unless it has been sold. (Your Income is called unrealized Income which is not taxable, only realized income is taxable in case of MF's)
CAclubindia
