ITR selection for salary plus MT sales

This query is : Resolved

Ritesh (Querist)
Follow

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

Ram Avtar Singh

Ram Avtar Singh (Expert)
Follow

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".

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

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.

Message likes : 2 times

Upgrade to CAclubindia Pro. Subscribe Now!

Ritesh

Ritesh (Querist)
Follow

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.