Mutual fund investment frm current account
This query is : Resolved
24 May 2012
Im run a business as sole proprietor & maintain a current account wherein the business receipts are deposited.
I want to invest a portion of this amount into mutual funds & shares.Can i transfer funds from this current account for purchase of Mutual funds & shares?
If yes, do I have to show the investments made in the accounts & IT returns?
I want to invest a portion of this amount into mutual funds & shares.Can i transfer funds from this current account for purchase of Mutual funds & shares?
If yes, do I have to show the investments made in the accounts & IT returns?
25 May 2012
Yes you can make the investments.
These investments will be disclosed in your Balance Sheet at the time of filing the return.
These investments will be disclosed in your Balance Sheet at the time of filing the return.
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