Mutual Fund declaration in BS

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This discussion clarifies how to declare mutual fund investments on a Balance Sheet, particularly for ITR 3 filings. For short-term mutual fund investments purchased and sold within the same financial year, it's recommended to declare them under 'Investments' in the investment schedule. If the format doesn't specifically cater to this type of mutual fund, it can be shown under 'Other Current Assets'.

Dibyendu Majumder

Dibyendu Majumder (Querist)

11 August 2022 One of My clients has a balance in Mutual Fund-OTHERS M.V. around 50 Lakh, as on 31st March 2022-short term, purchase month March 2022 & sale month May 2022, Where i should declare this Investment in BS ended 31st March 2022? in Investment or other Asset of the Asset side of BS?

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

11 August 2022 If you are filing ITR 3, then its possible to declare, otherwise there is no requirement of any BS declaration.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

11 August 2022 Show it as investment

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Dibyendu Majumder

Dibyendu Majumder (Querist)

11 August 2022 In investment schedule where I show thee amount of Mutual Fund? It is short term investment and not investment in equity, preference share and debenture, as shown in format BS of ITR 3. Can I show this MF in other Current Assets field?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

23 August 2022 Yes you can show it under CA

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