We have received the statement of Share of Income from AIF Mutual Fund for FY 2022-23. The Share of income received from Business Trust & Investment fund. The Nature of Income is : 1)Share in dividend income 2) Short-term capital gains / (loss)-STT Paid 3)Long-term capital gains / (loss)-STT Paid. 4)Gains arising from buyback of shares exempt u/s 10(34A) 5)Interest Income. One of AIF Mutual Fund has also deducted TDS on share of income, in the rest there is no TDS.
My question is whether that part of share of income which is reported from AIF Mutual Fund should be shown in the books of accounts of the company or not, or only reporting in Schedule PTI in ITR in Income Tax Return. Schedule PTI : Pass Through Income details from business trust or investment fund as per section 115UA, 115UB.
Kindly give your valuable advice on the above subject.
01 August 2023
The share of income which is reported from AIF Mutual Fund should be shown in the books of accounts of the company or not, or only reporting in Schedule PTI in ITR in Income Tax Return.
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