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".
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.