capital gain
This query is : Resolved
Prakash Rao
(Querist)
28 September 2017
During this financial year we received a capital gain of RS 4crores by shelling unlisted equity shares and we have deposited RS 1 crore in Birla mutual and reliance mutual funds is there any exemption is permitted as we have deposited in mutual funds
CA Rashmi Gandhi
(Expert)
28 September 2017
No exemption allowed for same........ You can get deduction of max. 150000/- in Sec 80C.
Amol S Joglekar
(Expert)
29 September 2017
no exemption for investment in non specified mutual funds.
Amol S Joglekar
(Expert)
29 September 2017
for long term capital gain,one needs to be careful in claiming the deduction u/s 80C
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- TDS- 2026-27 Q1 Correction
- Import Order Cancelled.
- Intimation under section 245
- Capital Gains Tax on Inherited Mutual Fund
- IMS (import of goods) ITC related
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
