ITR selection for salary plus MT sales
This query is : Resolved
05 June 2025
Hello sir ,
My wife is salaried and having income of 7 L . She have purchase Mutual fund (SIP ) of Rs 3 L and sale Mutual fund of 5000
She have also income of 2 L from intrest on saving and FD .
Which from should we choose ITR1 or ITR2 as Mutual fund sales
My wife is salaried and having income of 7 L . She have purchase Mutual fund (SIP ) of Rs 3 L and sale Mutual fund of 5000
She have also income of 2 L from intrest on saving and FD .
Which from should we choose ITR1 or ITR2 as Mutual fund sales
06 June 2025
File ITR-2 for your w..... in AY 2025–26, You have capital gains (even small ones, like ₹5,000 from mutual fund sale).
Check whether the mutual fund sale was equity-oriented and held for more than 12 months (then LTCG and exempt up to ₹1 lakh/year).
For FDs, check TDS deducted in Form 26AS or AIS and include interest as "Income from Other Sources".
Check whether the mutual fund sale was equity-oriented and held for more than 12 months (then LTCG and exempt up to ₹1 lakh/year).
For FDs, check TDS deducted in Form 26AS or AIS and include interest as "Income from Other Sources".
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06 June 2025
If LTCG is u/s. 112A and as such exempt, you can file ITR 1, as the option to declare such exempt CG is available in ITR 1 of AY 2025-26.
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06 June 2025
Thank you Ram Avtar Singh sir and Dhirajlal Rambhia sir.
Ram Avtar Singh sir Yes it is LTCG as MF hold more than 1 year. We have sale it just to verify is selling amount come to proper account or not.
Ram Avtar Singh sir Yes it is LTCG as MF hold more than 1 year. We have sale it just to verify is selling amount come to proper account or not.
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