i have got a x amount through my mutual fund redemption. I have taken out that amount through cheque frome my bank . am i liable to fill in the returns about what i have done with that money
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Replies (2)
Dear Hemant
If you have done any transaction from the withdrawl amount then you can show it or it will be termed as ur capital.
If you have invested it somewhere then it will be shown as investment or cash/bank balance as the case may be.
Bhavin bhadra
thanks for the answer.
i have invested the amount as cash payment to builder for a flat purchase.but i don't have any reciept regarding that and wont get any. I just wanted to know about tax on this money . am i liable to pay any tax on it. or get into some trouble in future regarding that. please explain if have any idea.
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