A/c entry of mutual fund

Suppose I've invested Rs.1,00,000.00 in a Mutual Fund on 01/04/2010 and the same amount again on 01/04/2011 & 01/04/2012, totalling my investment to Rs. 3,00,000.00. Now, I redeem it on 31/03/2012 for which I receive Rs.4,50,000. How can I show all the entries in accounting?

Also, how much of all the investments and its dividend exempted from income tax ?

Thanks in advance.

Replies (3)

I hope so you sold your investment on 31/03/2013.

1) Mutual fund a/c 100000

to bank a/c                   100000

Same entry for next 2 years

2) Bank a/c Dr  450000

to Mutual fund a/c 300000

to Profit on mutual fund A/c 150000

 

Regarding exemption it depend upon whether it is debt fund or equity.

If it is Debt fund than it is taxable. if Equity than exepmt if it is held for more than 1 year.

If it is Debt fund than it is taxable. if Equity than exepmt if it is held for more than 1 year.
 

what is a debt fund actually? Is it in anyway related to debenture issues?

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
18 August 2026
CA Semi Qualifies

Goyanka and Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

K R Kiran Kumar & Associates

Bengaluru

CA Inter

View Details