banner_ad

Profit on sale of long term mutual fund

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 September 2025 Is profit on sale of mutual fund invested out of corpus fund taxable in the hands of charitable trust registered u/s12A.
where to enter in ITR 7 please clarify
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
12 September 2025 The profit on the sale of mutual funds from corpus fund is not taxable in the hands of the charitable trust registered under section 12A if reinvested or applied for charitable purposes as per section 11 and Supreme Court rulings. For ITR-7, this income should be reported in the income schedules like Schedule AI or VC, and the utilization/reinvestment should be appropriately reflected in the application schedules (ER/EC). The exemption claim under section 11 is to be made accordingly.
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
19 September 2025 Good Luck...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details